Inequality and the American oligarchy
By Eric London, 7 October 2017
New data from the Federal Reserve reveal the extraordinary growth of social inequality within minority populations, which forms the basis of the identity politics of the upper-middle class.
By Shelley Connor, 18 September 2017
A United Nations study found that war and climate change were the driving forces of an increase in malnutrition worldwide in 2016.
By Nick Beams, 31 August 2017
The word “recovery” is frequently used to describe the state of the world economy, but what it really reveals is the position of the ultra-wealthy.
By Alex González, 23 August 2017
The study lays bare the degree to which financial corporations, many from the US, dominate every aspect of life in Latin America.
By Barry Grey, 15 July 2017
The 2008 Wall Street meltdown ushered in an intensification of attacks on the working class combined with a record rise on the stock market.
By Alice Summers, 1 July 2017
A survey reveals that many poor families, with stagnating incomes and record levels of personal debt, are unable to afford basics such as food, beds or refrigerators.
By Wasantha Rupasinghe, 27 June 2017
In an exercise in political damage control, the prime minister expressed his “sympathy” for the victims and announced compensation for the families of the dead and injured.
By Jean Shaoul, 27 June 2017
The Kensington and Chelsea Tenant Management Organisation, despite being nominally a tenants’ organisation, has served the Conservative council’s broader objectives.
By Marc Wells, 17 May 2017
The $22-million facility resembles a heavily guarded fortress and provides members’ with a private, highly secured and paparazzi-free environment where a team of eight people caters to their every need.
By Elisabeth Zimmermann, 20 March 2017
12.9 million people in Germany are living in poverty, according to a report presented at the beginning of March.
By Nick Beams, 21 January 2017
The atmosphere at the World Economic Forum was a mixture of bewilderment over the disintegration of the present global order, coupled with fears as to where it might be leading.
Oxfam issues report on eve of Davos conference
By Nick Beams, 17 January 2017
The report, released as the world’s billionaires converge on Davos, Switzerland, reveals that global inequality is even more pronounced than previously recognized.
By Nick Beams, 29 December 2016
US billionaires alone have increased their wealth by $77 billion due to the rise in the stock market since the election of Trump less than two months ago.
By Barry Grey, 21 December 2016
The American corporate elite anticipates that Trump will remove all constraints on its ability to plunder American society for personal gain.
By Andre Damon, 20 December 2016
A new study by economists Thomas Piketty, Emmanuel Saez and Gabriel Zucman gives the most complete picture to date of social inequality in America.
By Nick Beams, 26 October 2016
Despite the wealth of vitally important data, there was a paucity of historical and political analysis on how ever-widening social inequality can be overcome.
By Nick Beams, 25 October 2016
Facts and figures featured in the analysis conducted by French political economist Thomas Piketty underscore that there is no possibility of combating ever-growing social inequality other than by means of socialist revolution.
By John Braddock, 4 August 2016
Big investors have seen “huge gains” to their share portfolios, while the property boom has “seeded fortunes for astute and opportune investors.”
By Gabriel Black, 3 August 2016
Declining household income and rising rent prices are preventing workers and young people from owning homes.
By Philip Guelpa, 28 July 2016
A two-year-long study of New York City residents reveals substantial, widespread poverty and other economic disadvantages.
By Ellis Wynne, 18 July 2016
Denmark has fallen from the world’s most equal society at the beginning of the millennium to number 14 in the list of European countries.
By Gabriel Black, 16 July 2016
A new report from McKinsey Global Institute finds that for most people in the advanced capitalist countries there has been no recovery from the 2008 Wall Street crash.
By Patrick Martin, 2 July 2016
Average incomes of the top 1 percent rose twice as fast as the incomes of the remaining 99 percent of Americans in 2015.
By Marianne Arens, 27 June 2016
Along with the US, Japan and China, Germany is one of the four countries with the most millionaires in the world.
Reports document social crisis
By Patrick Martin, 23 June 2016
Two reports issued over the past week shed light on the deepening social crisis in the United States and the deteriorating economic position of the working class.
By Usman Khan, 18 June 2016
A recent report by the Global Slavery Index documenting that millions are living in conditions of modern slavery stands as an indictment of the capitalist system.
By Evan Blake, 4 June 2016
The US economy added only 38,000 jobs in May, the fewest since 2010, in another indication of the persistent slump gripping the US economy.
By Sybille Fuchs, 21 April 2016
By 2030, almost half of all new retirees will face the threat of a pension at the level of Hartz IV social welfare.
By Thomas Gaist, 7 April 2016
Last year saw the highest rate of state killings since 1989, with at least 1,634 prisoners killed, a more than 50 percent increase over 2014’s official number.
By Kate Randall, 2 February 2016
The SNAP cutoffs loom as hunger and food insecurity continue to rise and more than a quarter of the unemployed have been jobless for more than six months.
Notes on the housing crisis
By Robert Fowler, 1 February 2016
As the number of homeless reaches new heights in New York City, more and more apartments owned by absentee, super-wealthy owners stay empty for most of the year.
By Andre Damon, 9 January 2016
For millions of people, the dream of winning the lottery has replaced the “American Dream” of living a decent life.
By Tom Eley, 4 January 2016
America’s super-rich and giant corporations hide trillions of dollars in order to avoid paying taxes on their earnings.
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.