By Andre Damon, 15 August 2015
Under conditions of slowing economic growth and record amounts of cash on corporate balance sheets, mergers and acquisitions are being used to intensify the assault on the working class.
By Dennis Moore, 6 August 2015
According to a new study, an estimated 1.3 million young people aged 16 to 24 have slept rough during the past year.
By Douglas Lyons, 16 July 2015
Most social programs and the state’s 500 school districts have been operating on reduced funding for over 7 years and have used up any reserve they may have had.
By Aaron Asa, 14 July 2015
A recently passed law in Louisiana will facilitate the use of textbooks with religious-based attacks on evolution and climate change.
By Andre Damon, 11 July 2015
The much-vaunted rise of the “global middle class” is “more promise than reality,” according to a report published this week by the Pew Research Center.
By Steve Light and Allen Whyte, 7 July 2015
Nine building maintenance workers in the Bedford-Stuyvesant community of Brooklyn were fired from their jobs for refusing cuts in wages and benefits.
By Andre Damon, 4 July 2015
The vast sums of money pocketed by bank executives are bound up with activities that range from borderline legal to flagrantly illegal.
By Margot Miller, 4 July 2015
A staggering two thirds of children growing up in poor households have at least one family member in work.
By Vilani Peiris, 4 July 2015
The transformation of Colombo into a destination for wealthy tourists is the product of ruthless attacks on the inner-city poor, including mass evictions.
By Cheryl McDermid, 3 July 2015
Australia’s mining boom benefited a tiny elite at the top of the income table.
By Andre Damon, 2 July 2015
A new report by economist Emmanuel Saez found that the share of income going to the top one percent of US earners increased by one percentage point last year.
The “American Dream” denied
By Andre Damon, 25 June 2015
Amid falling wages, rising housing costs and tight-fisted lending by banks, the “American dream” of homeownership has moved out of reach for most young households.
By Gabriel Black, 18 June 2015
According to a new report, the vast majority of new wealth for the rich has come from the increase in the value of pre-existing assets.
By Barry Grey, 15 June 2015
The privatization of education is profoundly antidemocratic and alien to the basic principles and conceptions that animated the American Revolution and founding of the republic.
By Andre Damon, 8 June 2015
Despite polls showing overwhelming popular opposition to social inequality, these sentiments find no genuine expression in official US politics.
By Gabriel Black, 23 May 2015
The growth of inequality has been accompanied by the expansion of part-time and contingent labor, particularly for younger workers.
By Andre Damon, 20 May 2015
Jobs created in the aftermath of the 2008 crisis have been disproportionately contingent and part-time, according to a new report published by the International Labor Organization.
By J. Cooper, 18 May 2015
Artwork, particularly 20th century and contemporary art, now functions as another commodity for the financial aristocracy to invest and speculate in.
By Evan Blake, 14 May 2015
Throughout the US, states are on average spending $1,805 less per student than before the financial collapse.
By Robert Stevens, 30 April 2015
Britain is more attractive to the super-rich than anywhere except America.
By Zaida Green, 17 April 2015
A new report by the Overseas Development Institute claims that official statistics may undercount the number of people in extreme poverty worldwide by as many as 350 million.
By Denis Krassnin, 10 March 2015
The mounting gap between rich and poor in Germany is causing the country to fragment into disparate socio-economic regions.
By Joseph Kishore, 4 March 2015
The inexorable rise in the wealth of the ultra-rich, amidst economic stagnation, is an expression of the parasitic character of world capitalism.
By Barry Mason, 24 February 2015
In 2008, the beginning of the economic crisis, suicides associated with job loss were nine times greater than previously thought.
By Denis Krassnin, 19 February 2015
The richest .1 percent of the German population controls as much as 16 percent of the country's wealth.
By Nick Beams, 23 January 2015
The measure will have little or no impact on the real economy. Rather, it is aimed at making available further supplies of ultra-cheap cash for financial speculation.
By Andre Damon, 21 January 2015
A group of people who can fit into a double-decker bus control more wealth than 3.5 billion people, equivalent to the combined populations of China, India, the United States and the European Union.
By Andre Damon, 20 January 2015
As the global financial oligarchy descended on Davos, Switzerland this week, the Oxfam charity released new figures on the colossal growth of social inequality.
By Philip Guelpa, 16 January 2015
Amid rising homelessness and a dearth of affordable housing, de Blasio’s programs favor real estate interests and the wealthy elite.
Figure hits $4.1 trillion
By Andre Damon, 3 January 2015
The wealth of the global financial elite soared last year amid surging stock markets fueled by cash infusions from central banks.
By Nick Beams, 31 December 2014
Divergent central bank policies are a potential source of financial turmoil in 2015.
By John Braddock, 29 December 2014
Hundreds queued for nine hours for emergency Christmas food parcels.
By Nick Beams, 27 December 2014
The ever-widening gap between financial markets and the real economy is creating the conditions for economic turmoil and the eruption of social and political struggles.
By Patrick Martin, 6 December 2014
The latest Global Wage Report by the International Labor Organization documents the international working class’s declining share of world income.
By E.P. Bannon, 6 November 2014
A recent report released by Bloomberg listed the 50 most unequal cities in the United States.
A “great leap backwards”
By Andre Damon, 29 October 2014
There are 76.5 million children in poverty in 41 developed countries, according to a report published Tuesday by the United Nations Children’s Fund.
By Thabo Seseane Jr., 27 October 2014
Malnutrition is especially severe among women and children in South Africa, with Oxfam researchers reporting that childhood stunting has increased to 26.5 percent.
By Andre Damon, 18 October 2014
Whatever the pretense of “one person, one vote,” the fact is that the top 0.1 percent dictates policy and essentially selects the personnel tasked with carrying it out.
By Andre Damon, 17 October 2014
Hypothetically, if the growth of inequality were to proceed at last year’s rate, the richest one percent would control all the wealth on the planet within 23 years.
By Joseph Kishore, 19 September 2014
There are now 2,325 billionaires in the world, and their combined wealth has increased 12 percent from last year, according to a new report from Wealth-X and UBS bank.
By Robert Stevens, 28 August 2014
The country is sharply polarised between a tiny minority who control much of the country’s wealth and monopolise political life, and the vast majority who have little control over either.
By Steve Light, 22 August 2014
A 33-story luxury building under construction will have a separate back entrance for those who live in its “affordable” apartments.
By Jake Dean, 22 August 2014
New reports continue to expose worsening economic conditions for millions.
By Joseph Kishore, 27 May 2014
In a series of articles over the past several days, and in a major editorial published on Monday, the Financial Times has launched a scurrilous attack on Thomas Piketty and his book, Capital in the Twenty-First Century.
While wages, jobs stagnate
By Patrick Martin, 5 April 2014
The median worker would have to work 257 years to earn as much as the typical top 500 CEO made in 2013 alone.
By Ed Hightower, 5 March 2014
The number of billionaires worldwide increased by 268, the largest such increase ever, with a combined net worth of $6.4 trillion.
By Dietmar Henning, 1 February 2014
Record luxury cars sales reflect the super-rich’s stranglehold on the global population.
By Peter Symonds, 24 January 2014
Abe likened the current friction between Japan and China to the rivalry between Britain and Germany on the eve of World War I.
By Andre Damon and Barry Grey, 21 January 2014
On the eve of the annual spectacle of parasitic wealth and power that is the World Economic Forum in Davos, the Oxfam charity has issued a report warning of the unprecedented growth of social inequality throughout the world.
By Mike Head, 21 January 2014
The ILO noted the glaring disparity between the recovery on global financial markets and the worsening situation facing workers.
By Julie Hyland, 9 November 2013
The discovery of “Maria” was the occasion for a hysterical campaign over alleged Roma child-trafficking.
By John Watanabe, 3 October 2013
The staggering growth in the worth of these ultra-wealthy individuals testifies to the widening social gulf between rich and poor.
By Stefan Steinberg, 17 September 2013
A report released last week warns that nearly a third of the European population faces the threat of poverty.
By Paul Mitchell, 8 July 2013
An International Criminal Tribunal judge alleges that the US and Israel have moved for the release Croatian and Serbian officers accused of war crimes.
By Robert Stevens, 6 June 2013
A total of 18,000 people in the UK now earn £1 million. Two year ago, 10,000 individuals earned more than £1 million, and in 1999-2000, only 4,000 people did so.
By Jake Dean, 1 June 2013
A new report by Save the Children, Food for Thought, highlights the extraordinary impact that malnutrition has upon a child’s cognitive development.
By Julien Kiemle, 30 May 2013
The ultra-wealthy, banks and corporations have some $32 trillion of wealth hidden in off-shore tax havens, according to a leaked cache of information.
By Andre Damon, 24 May 2013
As social services are slashed allegedly because there is “no money,” Apple, the most profitable company in history, has avoided paying taxes on over $70 billion in income.
By Bryan Dyne, 26 February 2013
Lack of sewerage treatment contributes to contamination problems for the majority of the world’s population.
By Kristina Betinis, 1 February 2013
The global financial crisis has taken a heavier toll on the basic conditions of girls and women when compared to the world’s population as a whole.
By Andre Damon, 23 January 2013
The 44th annual World Economic Forum began Wednesday, bringing over 2,000 corporate executives, major investors, government leaders, central bankers and celebrities to the Swiss Alpine resort.
By Patrick Martin, 11 January 2013
The world’s 100 richest people increased their wealth by $241 billion in 2012.
By John Braddock, 25 October 2012
Two recent reports detail the falling incomes of working people and rising levels of poverty, especially among children.
By John Braddock, 7 August 2012
The wealthiest New Zealanders have not suffered from the austerity drive being imposed on the working class.
By Paul Stuart, 27 July 2012
The Royal Dock complex, adjacent to London’s financial district at Canary Wharf, is hosting up to one hundred super yachts, including twenty of the world’s most opulent, as the Olympic Games begin.
By Ernst Wolff, 26 July 2012
The super-rich are currently hiding away between $21 trillion and $32 trillion in tax havens such as Switzerland or the Cayman Islands.
By Andre Damon, 28 June 2012
As governments throughout the world close schools, lay off workers and slash support to the poor, old and sick, the financial oligarchy that rules the world increases its wealth and power.
By John Clayton and Paul Bond, 23 February 2012
A comment on the celebrations marking the 200th anniversary of the birth of English novelist Charles Dickens.
By Kate Randall, 17 February 2012
Save the Children warns that half a billion children around the world could grow up physically and mentally stunted over the next 15 years due to chronic malnutrition.
By Ben McGrath, 7 February 2012
Apple’s Supplier Responsibility Progress Report is a cynical public relations exercise designed to whitewash the company’s image.
By Nick Beams, 28 January 2012
A new factor has entered the scene—the re-emergence of the international working class as exemplified in the Egyptian revolution and the ongoing social struggles around the world.
By John Chan, 17 September 2011
The burgeoning list of billionaires has put China ever closer to the United States as the largest home of the super-rich, even as China’s average per-capita income ranks just 94th in the world.
By Simon Walker, 21 July 2011
The rich are living sometimes eleven years longer than workers in the poorest areas of Britain.
By Elizabeth Zimmermann, 13 July 2011
The government in Berlin comes in for sharp criticism in a United Nations report on the social situation in Germany.
By Patrick O’Connor, 11 June 2011
Record levels of greenhouse gas emission constitute a damning indictment of the capitalist system.
By Barry Mason, 10 June 2011
The international development charity Oxfam issued a report this month highlighting the growing global food crisis.
By Simon Walker, 7 June 2011
It was only weeks ago that the Sunday Times Rich List revealed how the international super-rich who reside in the UK have over the past two years fully restored their levels of wealth to pre-2008 levels.
By Nick Beams, 21 May 2011
In the midst of the Strauss-Kahn crisis, a World Bank report pointed to vast shifts underway in the structure of the world economy, which indicate that the conflict over the IMF leadership is just one of many to come.
By Jean Shaoul, 5 April 2011
Amid Shanghai’s commercial opulence, there is grinding poverty and deprivation on an even greater scale in this city of 20 million people.
By Jean Shaoul, 17 March 2011
Social discontent in Hong Kong has been fuelled by a sharp rise in home prices and rents, which have doubled in the last five years.
By Jean Shaoul, 17 March 2011
Protestors took to the streets in downtown Hong Kong on March 6 to oppose the government’s budget, which will further enrich the financial elite.
By Keith Jones, 9 December 2010
A study published last week shows that social inequality in Canada has now reached levels unseen since the 1920s, with the richest 1 percent of Canadians appropriating 13.8 percent of all market income.
By Barry Mason, 27 November 2010
A United Nations Food and Agriculture Organisation (FAO) report published this month warns that food price increases are “dangerously close” to crisis level.
By Richard Phillips, 28 September 2010
European Commissioner Laszlo Andor described 2010 as an “annus horribilis” for unemployment, but warned that “2011 may still turn out to be the annus horribilis for social cohesion”.
By Bill Van Auken, 23 September 2010
The “poverty summit” that concluded at the United Nations Wednesday only underscored capitalism’s responsibility for conditions of desperate poverty and hunger which have deepened worldwide as a result of the global financial crisis.
By Stefan Steinberg, 8 July 2010
A new report reveals that in the wake of the most serious economic crisis since the 1930s, European governments are continuing to cut corporate taxes while increasing the tax burden on the working population.
By Jean Shaoul, 13 May 2010
On May 11, the Egyptian parliament approved a presidential decree extending the state of emergency for a further two-year period.
By Alex Messenger, 5 May 2010
The worldwide economic crisis has thrown tens of millions of workers—especially those in the youngest and oldest cohorts—into permanent unemployment
By David O’Sullivan and Socialist Equality Party candidate for Oxford East, 29 April 2010
The latest annual Sunday Times Rich List reveals a massive increase in the wealth of Britain’s super-rich.
By Elizabeth Zimmermann, 17 March 2010
The chief executives of the companies and banks listed in the German stock exchange index DAX pocketed millions in 2009 despite the economic crisis and a sharp slump in industrial production.
By Andre Damon, 12 March 2010
The world’s billionaires saw their wealth grow by 50 percent last year, and their ranks swell to 1,011, from 793, according to the latest Forbes list of billionaires.
By Barry Grey, 25 February 2010
With the eruption of the European sovereign debt crisis, a new category has emerged in the bourgeois press—“profligate countries.”
By Paul Bond, 6 February 2010
A report commissioned by the Labour government shows how its pro-business agenda during its 13 years in office has led to a dramatic increase in inequality.
By Julie Hyland, 15 December 2009
Earlier this month, a London Coroner’s Court heard that on June 13 this year, Christelle Pardo leapt from the sixth-floor balcony of her sister’s flat in Hackney, east London, holding her five-month-old son Kayjah in her arms.
By Barry Mason, 18 November 2009
The UN’s Food and Agricultural Organisation abandoned its hunger reduction targets in advance of the World Food Summit on Food Security that opened in Rome on November 16. Instead, it will now aim “to take action towards sustainably eradicating hunger at the earliest possible date.”
By James Brewer, 17 November 2009
The opening of the Food Summit in Rome revealed the indifference of major world leaders toward famine.
By James Brewer, 13 November 2009
There are currently 195 million children under the age of five in underdeveloped countries whose growth is stunted due to chronic malnutrition, according to a UN agency.
By Julie Hyland, 12 November 2009
A global poll by the British Broadcasting Corporation shows widespread disaffection with the capitalist free-market, including a significant opposition to capitalism per se.
By Tom Eley, 15 October 2009
More than 1 billion people will go hungry in 2009, two UN agencies reported on Wednesday, an increase of over 100 million people in one year.
By Jerry White, 18 September 2009
For the first time in history, more than one billion people, or nearly one in every 6 inhabitants of the planet, are going hungry this year.