Good things trickle down from the top, cheerleaders for grand fortune like to argue, when wealth concentrates. In real life, suggests economist Robert Frank, growing inequality makes things worse even for its ostensible beneficiaries.
If President Obama played basketball with the king of Bhutan, would the world have a better shot at becoming a happier place?
How much can a billion dollars buy? The undivided attention of America’s entire political and chattering classes. Case in point: our ongoing national fixation on debt and deficit . . . The tax discount for the ultra rich . . . The arrogance of a Bank of America CEO.
Federal regulators have actually been cracking down somewhat lately on financial industry fraud. But the power-suited executives responsible for that fraud are still paying no personal price . . . Global wealth settling in at the summit.
By every measure that matters, relatively equal nations outperform nations where income and wealth concentrate at the top. The best telling of that story.
Outrageous compensation rewards give corporate executives an incentive to behave outrageously — against soccer moms and doting granddads. The sad tale of Cisco and the Flip video camera . . . The AFL-CIO’s latest executive pay figures . . . A new inequality ranking of the world’s major developed economies.
A spirited demolition of the rationales for paying our executives king-sized compensation. A review of Pay Check: Are Top Earners Really Worth It?.
A relative handful of Americans, says a key congressional panel, will take home more this year than half the nation’s taxpayers combined . . . A trio of acadmics look at class struggle at the corporate summit . . . An $80,000 pool table that electronically tracks pool balls as they roll and other toys that the affluent young, says the publisher of Esquire, fully “deserve.”
Banker bonus bingo at Goldman Sachs and JPMorgan Chase . . . The dirty bomb coming to a city near you: an eye-opening new work from Yale’s Bruce Judson . . . The scoop on America’s real “Cadillac” health plans.
Watch out, Wall Street, here come the Dutch — with a plan to really rein in banker bonuses . . . In Congress, Blue Dogs and their wealthy friends . . . For average folks, a tough start for century 21.