When there is so much economic insecurity, when you feel like you could be next, when you feel like you are one accident away from losing your house and losing everything, there is the lesser impulse of us is to subjugate or to feel like there is another class of people that is below you.
Under the banner of 'May Day Strong,' activists, unions, educators, students, and community groups are calling for 'no work, no school, no shopping' on Friday, May 1. Rallies, marches, teach-ins, walkouts, and other events are also planned across the country.
I never expected to own a home. I wasn't born into generational wealth. I grew up poor. There was-and is-no big family inheritance coming my way. Not property. Not cash. Not stocks or bonds or whatever financial instrument one might trade or sell or leverage to join the landed class.
This is hardly the first season in which the wealthy have made themselves more and more powerful in collusion with the powerful, making themselves more and more wealthy all at the expense of political equality and economic opportunity. Today we use words like unprecedented, but the truth is our times are more precedent than we would care to admit.
Oil shocks are especially painful because of the commodity's wider uses, not least in fertiliser, and the knock-on effects for manufacturing and transport. And the poor are hit hardest. Recent research published by economists at the University of Massachusetts Amherst identified energy, along with food and agriculture, as among the commodities that have a disproportionate capacity to increase inequality when their prices rise.
Back in the post-WWII era, being middle class meant something clear and attainable- a steady job, a home you could afford on one income, being able to buy a new car, and the ability to raise a family without constant money stress. Pew Research defines the middle class as households earning about two-thirds to double the national median income, with the exact dollar figure depending on where you live.
Politicians must stop prioritising socially and ecologically destructive growth that only increases the profits and serves the consumption demands of the world's richest individuals and corporations. Instead, to tackle the interwoven crises of rising inequality, ecological collapse and a resurgent far-right politics, a new economic agenda is needed.
The ratio of workers to beneficiaries has plummeted from 10 or more in the mid-20th century to merely two or three today. As a result, the timeline for the depletion of the program's surplus trust funds has accelerated, shifting from 2035 to the end of 2032. After 2032, incoming payroll tax revenue, income from taxation of benefits, and interest on the trust funds will not cover 100% of promised benefits.
Cash transforms health when four particular conditions are met. Most U.S. cash-transfer pilots have lacked them. But one major American policy does come close: the federal food-assistance program SNAP. Its success offers a road map for what effective cash assistance can look like in this country, if we choose to build on it.
This is true all over the country, there's a lot of good food in grocery stores that goes to waste. Most of the cheap cuts of meat are very inexpensive. If you buy a porterhouse steak, or a steak, it is going to set you back. But you can buy liver or the cheaper cuts of steak that are very affordable.
I can honestly say that if I was 18 now, there is no way I would go to university only to leave with huge debts and poor job prospects. Instead, I would become an electrician or similar trade.
With childcare costs and the rent, we're living paycheck to paycheck. As Silicon Valley generates unprecedented wealth, a new report finds that economic gains are increasingly tied to investments owned disproportionately by the region's more affluent residents, contributing to widening gaps in who shares in the growing prosperity.
Trump is a president with an approval rating below 40 percent. There is little evidence to suggest it will ever rebound much. There may now be a lower floor than in the first term. The Trump administration's savagery in Minneapolis destroyed the popularity he had enjoyed on the issue of immigration. His advantages on the economy are gone, too, as Americans confront a K-shaped recovery that has thrilled the rich while leaving much of the rest of the country with higher costs and a meager job market.
Most critics of President Donald Trump view him as the ultimate threat to American democracy. But to Nobel prize-winning economist Daron Acemoglu, Trump's merely a fever, the result of an infection that's been brewing for years before he rode down the golden escalator to announce his presidency. The MIT economist has spent decades studying the origins of economic and political decay, specializing in how institutions foster inclusive growth-or succumb to extractive systems.
The California Democratic Party will hold its midterm convention at Moscone Center in San Francisco this weekend, and while there's not a whole lot of suspense, it's always an opportunity to see which way the party is leaning in a crucial election year. The message so far: Don't talk about economic inequality-and don't mention the billionaire tax. All the candidates for governor, and all the candidates for the other statewide offices, will be there. Mayor Daniel Lurie will address the crowd. The party issues endorsements in contested primaries, and the San Francisco Congressional race was wired from the start for state Sen. Scott Wiener.
Fifteen years ago, Egyptians from all walks of life took to the street to demand "bread, freedom, social justice." They were protesting the oppressive 30-year rule of Hosni Mubarak. Egypt had been under martial law for 31 years. This meant that political opposition was silenced, and opponents were often imprisoned and tortured. Police brutality was the norm. Egypt's economy was also weak and relied heavily on foreign aid and loans from the World Bank and International Monetary Fund.
When past generations imagined the best version of the future, it was one of leisure. Advertisements, cartoonists, and pulp novelists dared us to dream of a world where the spoils of industrial development were shared with all: robot butlers, transit by pneumatic tube, and more familiar tropes. These developments, it seemed, would make our lives more convenient, more secure, and - dare we say - more abundant.
A friend recently told me a story that made this reality impossible to ignore. Her elderly parents live near an elementary school not far from the nation's capital. For several years, they had been quietly raising money to provide groceries and basic supplies for families whose children were going hungry. When Republicans suspended SNAP benefits, the need surged overnight. What had been a steady act of care suddenly became an emergency response.
The road was intended as a solution to the gridlocked roads of India's commercial capital. But Mumbai is a densely populated peninsula, 25 miles (40km) long and 6 miles wide, where land is as scarce as snow. The new coastal road had to be built on land reclaimed from the Arabian Sea. An engineering marvel, it connects north and south, and is a dream for car owners, who used to average about 5mph through Mumbai's congestion.
