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Income inequality

This tag is associated with 6 posts

What is More Important: Markets or People?

(Editorial) A defining question for our age is whether people or markets matter more. Some believe that the so-called “free” market can do no wrong, and that it is people who must adjust themselves to it, however painfully. Others believe that markets merely serve as a tool, and that if markets deliver a result that … Continue reading

More Evidence of Labor Being Squeezed for Profit

(WNY) Inequality of both income and wealth is rising fast in the US. Since 1993, when significant revisions to an official measure of income inequality among households occurred, this measure of income inequality is up over 5 percent. Some increase can be attributed to growth of pay disparity between educational attainment – a college “premium”, … Continue reading

Growing Income Inequality Could Be a Life Sentence at Low Achievement for Many

(Analysis) Data from the Census Bureau show a widening gap between rich and poor in the US. Whether you directly compare the incomes from upper-income groups with lower-income groups, or construct more statistically sophisticated measures, the data show the same worrying trend: income inequality in the US is on the rise, especially since 1979. One … Continue reading

Buffalo Area’s “Rentier” Income Outpaces Workers’ Earnings

(WNY) The average real (inflation-adjusted) wage per job in the Buffalo-Niagara Falls, NY area is failing to keep pace with real income from capital gains, interest, and rents – “rentier” income. The first chart to the left shows that as the average real wage (solid black line) is relatively stagnant during the years 2001-11, total … Continue reading

Buffalo Area’s Real Hourly Earnings Still Down From Pre-Recession

(Buffalo, NY) Data released by government agencies show that the Buffalo area’s real (adjusted for inflation) private-sector hourly earnings in Mar. 2013 are still down 3.6% from a level before the recession. This equates to a reduction in annual earnings for a typical full-time employee by approximately $1,700 of equivalent 2012 dollars – not small change … Continue reading

Labor is Being Squeezed

(Analysis) Are you better off than your parents were when they were your age? The answer to this question largely informs whether or not a country is on the right track. Sadly, too many working families today must answer “no” to this question, damning our country’s path since at least 1980. As corporations report record … Continue reading