Income Inequality

Chinese Scholar Predicts Artificial Intelligence Will Bring the ‘End of Capitalism’

In an op-ed published by the Washington Post last week, law professor Feng Xiang of Tsinghua University predicted that artificial intelligence technology will usher in the final triumph of socialism and the “end of capitalism.” The essay offers valuable insights into the ideological war China will wage against the United States in the coming decades, arguing that its system of authoritarian central planning is economically, socially, and morally superior to free-market capitalism.

The Associated Press

McKinsey: 2/3 of Western Economies Not Seeing Income Gains

McKinsey & Company was one of the biggest advocates of globalization, but the company just published a report warning that with incomes for two-thirds of households in 25 advanced economies flat or down between 2005 and 2014, advanced countries are about to suffer “corrosive economic and social consequences.”

According to findings in the Journal of the American Medical Association, African-American men in poverty in the US saw a 2.7 times higher risk of death than African-American men living above poverty status

Top 1% Wins — and Middle Class Loses — on ‘Regulatory Drag’

A new study documents that “regulatory drag” has eliminated about a third of economic growth in America since 1980, and explains why the top one percent’s inflation-adjusted share of income has tripled, while the middle class has lost income.

Kevin Lamarque / Reuters

‘Panama Papers’ Source Writes Manifesto Against ‘Income Inequality’

The anonymous source for the “Panama Papers” leak – described by the International Consortium of Investigative Journalists as a “whistleblower,” although the Mossack Fonseca law firm of Panama would say “thief” is a better word – has written a lengthy manifesto, reprinted in full by the ICIJ.

Panama Papers -- The website of the Mossack Fonseca law firm is pictured in this file illustration picture taken April 4, 2016. REUTERS/REINHARD KRAUSE/ILLUSTRATION/FILE

For the Rich, Green Greed Is Good: From the Enclosure Acts to Eminent Domain

Yes, the past always repeats itself. In our first installment, we saw how, in the 18th century, the English aristocracy went about clearing the peasants off of valuable land. To be sure, everything that the aristocrats did was legal — of course it was, because the gentry wrote the laws.

For the Rich, Green Greed Is Good: From the Enclosure Acts to Eminent Domain

Khieu Samphan: ‘I Have Never Wanted Anything Other Than Social Justice’

“What I want to say today and what I want my countrymen to hear is that as an intellectual I have never wanted anything other than social justice for my country,” 84-year-old Khieu Samphan told a courtroom on Wednesday. “I shall shout loudly that I never wanted to agree to any policy that is against the Cambodian people.”

CAMBODIA, Phnom Penh : This handout photo taken and released by the Extraordinary Chambers in the Courts of Cambodia (ECCC) on July 2, 2015 shows former Khmer Rouge head of state Khieu Samphan sitting in the courtroom at the ECCC in Phnom Penh. Two former Khmer Rouge leaders July 2 …

Trump: Obama ‘Has Done a Terrible Job For African-Americans’

On Sunday, with Martin Luther King Day right around the corner, George Stephanopoulos of ABC News asked Donald Trump what he would say to Americans, especially African-Americans, who believe Dr. King’s dream has not been achieved.

blue-collar

Bernie Sanders: SOTU Excellent, Hillary Clinton Backed by ‘Powerful Special Interests’

Democratic presidential candidate Bernie Sanders — an avowed socialist — lauded President Obama’s 2016 State of the Union address on Tuesday night before aligning himself with the President, taking a shot at fellow candidate Hillary Clinton for “wealthy and powerful” special interest financial backers, and drawing attention to Clinton’s “income inequality” inexperience.

AP Photo/Jacquelyn Martin

UN Investigators Accuse U.S. of Discrimination Against Women

Three radical feminist lawyers from the UN visited the United States for ten days, ending December 11. Sent as investigators of the UN Working Group on discrimination against women, their report shows they are not very happy.

War-on-Women

Age of Obama: Low-Income Workers See Greatest Decline in Wages

We all know what the standard liberal snake-oil response to stagnant wages is: job-killing minimum wage hikes, which also tend to be a big part of the reason income increases grow scarce in the workplace, producing the understandably frustrating wage stagnation people complained about to the NELP researchers and the New York Times. Nothing kills upward mobility for lower-income workers deader than high minimum wages and mandated labor costs like ObamaCare.

Years Of Economic Decline Leave One Third Of Atlantic City's Resident In Poverty

Report: Manufacturing Decline And Low Skill Immigration Have Depressed Wages

Gould reveals that changes in wages, employment, and income inequality have been impacted by the shifts in manufacturing, immigration and trade, and concludes that an area already being hit by a decline in manufacturing will be see more inequality if there is more low-skilled immigration.

AP Photo/Paul Sakuma

Inherited Super Wealth Is On the Decline

Forbes released it’s annual list of the world’s billionaires and it shows that America is increasingly becoming a nation of self-made elite. Since Forbes started keeping track in 1984, the number of completely self-made billionaires (who grew from little wealth)

AP Photo