The Market Now

Posts tagged: income gap


18th Century Aristocracy

Michel Barthelemy Olivier, "Thé a l'Anglaise" via Getty Images

The great aristocratic fortunes of the 21st century rival those of Louis XV. And beheading is rarer.

If Capital Grows This Fast, How Come Fortunes Disappear?

Thomas Piketty presents a theory of capital accumulation with some awfully optimistic investment assumptions. A lot of heirs believe their inherited wealth will last forever; a fair number of them end up broke.

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Barack Obama at Buck's restaurant in Greenville, Mississippi as a candidate in 2008.

Photographer: Emmanuel Dunand/AFP via Getty Images

Barack Obama at Buck's restaurant in Greenville, Mississippi as a candidate in 2008.

Race, the Great Unmentionable

Even when unmentioned, race lurks in the background of almost every discussion of economic advancement. In the 20 most heavily African-American towns in the South it remains harder to rise out of poverty than in just about every U.S....

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Universities' ivy-covered walls don't offer much protection from the pressures of the global economy.

Photographer: Barry Winiker/Getty Images

Universities' ivy-covered walls don't offer much protection from the pressures of the global economy.

Advanced Degrees Won’t Keep Your Pay From Falling

A common bromide about today's economy is that it rewards those with educational credentials, while pummeling folks without degrees. Cue the usual tropes of the once high-paying factory jobs that have disappeared. Now look at the chart here.

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In Dyer County, Tennesse, the median income is $38,909 a year. Thirty-five thousand dollars can be both middle class, and underwater.

Photographer: Scott Olson/Getty Images

In Dyer County, Tennesse, the median income is $38,909 a year. Thirty-five thousand dollars can be both middle class, and underwater.

Is $35,000 a Year Middle Class?

A big part of the middle class feels poor and disaffected in a way that folks at a comparable income level did not 15 or 20 years ago. The trillion-dollar question is: What's changed?

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Harrods doorman Robert Taylor poses for a photograph outside the luxury department store in London, U.K.

Photographer: Jason Alden/Bloomberg

Harrods doorman Robert Taylor poses for a photograph outside the luxury department store in London, U.K.

New Money, Old Problem

The image of the brand-hungry Chinese tourist is a current cliche, much as the bejewelled Russian was a few years ago. Get past the gaudy stereotypes, though, and whether you look at China, Russia or the Middle East, you find...

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