We always get what we measure. And if we measure inequality with a yardstick that only wonks can decipher, we’ll end up with a society too confused about inequality to do anything meaningful about it. Thanks to Chilean economist Gabriel Palma, we do have an alternative.
At the annual Davos retreat of our global elites, the world’s wealthy wring their hands over the widening inequality they themselves so relentlessly widen.
Butchers, bakers, and candlestick makers. You won’t find any of them on our annual Too Much list of America’s most avaricious. You will find wheelers and dealers and a candy store heiress.
Americans are gaining, ever so slowly, a more accurate picture of just how wide the gap has stretched between the nation’s most fabulously privileged and everyone else.
A tiny tax on global personal wealth over $1 million, newly released global wealth distribution data show, could ensure that no child anywhere on the planet has to live in extreme poverty.
The exceedingly comfortable who sit in America’s richest 1 percent have nearly fully regained the outsized share of the nation’s income they held just before the economy cratered five years ago.
Private wealth management groups continue to survey the holdings of the world’s rich. The millionaire share of world wealth, the latest data show, has jumped 14 percent since the global economic crisis began in 2007.
Luxury fortresses. Armored cars. Helicopter commutes. The abominably unequal ‘good life’ may be closer than you think. Meanwhile, in South Africa, a real push back begins.
Rising inequality, newly released data make plain, has left America’s metro areas — and neighborhoods — considerably less mixed by income. Are the rich about to bid the rest of us good-bye?
Yes, the poor have struggled mightily while our rich have become phenomenally flush. But middle-income Americans haven’t been able to jump off the treadmill either.