I think by this point, most people understand the idea that institutionalized wealth is pretty much everything, and the people that have it ultimately strive to protect it, and often they do a pretty good job of doing so. New data is… Continue Reading
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Thomas Piketty got a lot of attention, both good and bad, for his latest book. If you’ve never read it (admittedly, I have not either), the central idea is that, in capitalist economies, wealth will naturally concentrate in the hands of a… Continue Reading
Probably no entity in American life has been scrutinized more than the middle class — they rise, they’re left for dead, they rise again, they die again, etc. It’s almost comical sometimes. But in reality, especially after the 2008 downturn,… Continue Reading
I’m from New York City. To be more specific, I’m from the Upper East Side. It’s a mostly affluent area. My zip code growing up was 10128, which always makes those “richest zip codes in the United States” lists; in… Continue Reading
The notion of “haves” and “have-nots” may erode our entire social fabric. Continue Reading
If you’re trying to figure out where exactly the Great Recession (or “Downturn”) of 2008 did the most damage in the United States, one way to explore that would be to look at rising inequality rates. After all, in downturns the rich… Continue Reading
77 million American adults — which is one-third of the populace — have debt in collections right now. The average — remember, I just typed “average” — American with a credit file has $50,000 in debt. If you’re looking for… Continue Reading