Jul 16 The cruel key to individual prosperity: choosing the right ancestors By Gregory Clark In a column adapted from one of the most provocative economics books of the year, "The Son Also Rises," economic historian Gregory Clark argues that social status is inherited from your parents just as strongly as height. Continue reading
Jun 03 Seattle city council approves $15 minimum wage, largest in U.S. By News Desk Seattle's city council on Monday unanimously approved a measure to increase the minimum wage to $15 per hour, the highest minimum wage in U.S. history to date. “We did this. Workers did this. Today’s first victory for 15 will inspire… Continue reading
May 23 The critique of Piketty and his reply By Thomas Piketty Former Harvard president Larry Summers admires the research of "rock star" French economist Thomas Piketty, but he's been skeptical that innovation and entrepreneurship don't have more to do with the high rate of return on capital. Innovation is great, Piketty… Continue reading
May 16 Will the rich always get richer? By Laurence Kotlikoff Our regular Social Security columnist takes issue with French economist Thomas Piketty's inequality theory. Income inequality is real, he thinks, but it doesn't stem from the rich accumulating and hoarding ever more private wealth. Continue reading
May 15 The fast food strike: the hard facts behind the Big Mac attack By Simone Pathe Fast food workers in dozens of American cities and across the world walked off the job Thursday to demonstrate for a $15 an hour minimum wage. Talking to a McDonald's worker trying to make ends meet on $9.85 an hour,… Continue reading
May 14 Piketty on the U.S.: The birthplace of freedom and progressive taxation By Thomas Piketty French economist Thomas Piketty acknowledges that every society needs some degree of inequality. But when the bottom 50 percent of America owns only 2 percent of the wealth, we've strayed too far from America's legacy of progressive taxation and are… Continue reading
May 13 Watch Debating Piketty’s theory on how wealth begets wealth, widens the economic gap By PBS News Hour In "Capital," French economist Thomas Piketty explores how wealth and the income derived from it magnifies the problems of inequality. Gwen Ifill gets debate on his data and conclusions from Heather Boushey of Washington Center for Equitable Growth and Kevin… Continue watching
May 13 How Piketty’s inequality theory explains Mr. Darcy’s wealth By Thomas Piketty French economist Thomas Piketty has made a splash with his prediction that inequality will grow in America. But the economic relationship that explains that inequality is hardly new; it's the same phenomenon that allowed Pemberley Mansion to enrich Mr. Darcy… Continue reading
May 12 Watch 8:54 Why do the rich get richer? French economist Piketty takes on inequality in ‘Capital’ By PBS News Hour On a recent U.S. press tour for his bestselling book "Capital," French economist Thomas Piketty spoke to standing-room-only crowds about his examination of growing, global economic inequality. Economics correspondent Paul Solman interviews Piketty for his take on why inequality of… Continue watching
May 12 Inequality will worsen in America unless… Piketty’s Rx By Thomas Piketty The author of today's best-selling book about economics predicts that inequality is bound to get worse. His advocacy for an international tax on capital is well-known by now, but what else does he think can stem the tide of wealth… Continue reading