The Triumph of Injustice, by Emmanuel Saez and Gabriel Zucman: How tax cuts for the rich fuel inequality
By Andre Damon, 30 November 2019
Saez and Zucman argue that the systematic reduction of taxation of the rich and widespread tax evasion by corporations have been major factors in the growth of social inequality.
By Nick Beams, 14 October 2019
According to initial reports of the September meeting, as many as nine members of the 25-member governing council opposed the ECB's decision to return to “quantitative easing.”
By Trévon Austin, 10 October 2019
The overall tax rate on the richest .01 percent was only 23 percent last year, while the bottom half of the population paid 24.2 percent.
By Eric London, 28 September 2019
The US is now as unequal as the Democratic Republic of the Congo and less equal than Kenya, Mexico and Malaysia.
By Will Morrow, 22 August 2019
The report demonstrates how the financial markets serve as a mechanism for the transfer of wealth up the income scale, from the working class to the corporate elite.
By Thomas Scripps, 14 August 2019
London represents a grotesque concentration of all the social contradictions and inequities of British capitalism.
By Nick Beams, 13 August 2019
There is now a historically unprecedented situation in bond markets where it is estimated that some $15 trillion worth of government bonds are trading at negative yields, meaning an investor who purchased the bond and held it to maturity would make a loss.
By Margot Miller, 31 July 2019
Threatened with eviction, Phillip Herron owed £20,000 in debt to the banks, utility firms and pay day lenders that were charging him 1,000 percent interest.
By E.P. Milligan, 19 July 2019
The rise in hunger and food insecurity around the world is inextricably linked to the rise of social inequality, the outbreak of new wars and the disastrous effects of climate change.
By Nick Beams, 28 June 2019
The sideline meeting is widely viewed as the last chance to restart trade negotiations that broke down in early May.
By Niles Niemuth, 27 April 2019
Amazon plans to increase the exploitation of workers in the US and internationally by implementing free one day shipping for Prime subscribers to ensure ever-bigger profits.
By Margot Miller, 27 April 2019
The aristocracy and gentry still own 30 percent of the land, while 18 percent is owned by corporations and a staggering 17 percent is in the possession of oligarchs and bankers.
By Saman Gunadasa, 28 March 2019
Most of those who committed suicide were from the war-ravaged Vavuniya and Jaffna districts in the island’s north and Batticalao in the east.
As global elites gather at Davos
By Nick Beams, 22 January 2019
The UK-based charity Oxfam International has reported that the wealth of the world’s billionaires grew by $900 billion last year, a rise of 12 percent, while 3.8 billion people—half the world’s population—saw their wealth decline by 11 percent.
By Barry Grey, 10 November 2018
This money is diverted from government revenues in the US and around the world, and funneled into the bank accounts and stock portfolios of the global financial oligarchy.
By Gabriel Black, 20 October 2018
In 2017, the top one percent of US wage earners received their highest paychecks ever, according to a report by the Economic Policy Institute.
UN report on food security
By Patrick Martin, 13 September 2018
Wars and civil wars, generally instigated or fueled by the US and other imperialist powers, climate change and poverty are the leading causes of deepening food insecurity.
By Kate Randall, 13 September 2018
As social inequality continues to widen, millions are dying because adequate resources are not allocated to promote public health.
By Kate Randall, 21 August 2018
While many other countries saw a rebound in life expectancy in 2016, the US and the UK saw declines for two consecutive years.
By Matthew Taylor and Barry Grey, 18 August 2018
The typical CEO of a large firm in the US makes in a single day almost as much as the typical worker earns in an entire year.
By Patrick Martin, 2 August 2018
Behind the incessant claims of no money for urgent social needs is the drive by the top 0.1 percent to monopolize all the wealth created by the working class.
Seven months after Trump’s tax cut
By Gabriel Black, 26 July 2018
The trillions in deficits created by the tax cuts for the rich will be used to justify further slashes to critical social programs that millions of Americans rely on.
By Kumaran Ira, 25 July 2018
The vast fortunes accumulated by the financial aristocracy are the product of the social plunder of the working class that President Emmanuel Macron is accelerating.
By Barry Grey, 20 June 2018
The stock market boom and the entire process of social plunder have depended on the suppression of working class opposition and a savage attack on workers’ living standards.
By Jimmy Smith and Naomi Spencer, 13 June 2018
The headquarters of global shipping giant FedEx, Memphis also holds the dubious distinction of being number one in the country in child poverty.
Youth suicide rate up 56 percent from 2007 to 2016
By Kate Randall, 2 June 2018
The new statistics on deaths among US children and teens expose the social crisis confronting America’s youth in the form of gun violence, suicide, the opioid crisis, poverty and war.
As CEO compensation soars to new heights
By Kate Randall, 26 May 2018
Four in 10 US adults are a $400 expense away from financial ruin, and the typical employee would have to work 275 years to earn the average compensation of a top-200 CEO.
By Simon Whelan, 22 May 2018
In the same year that 72 people were killed in London’s Grenfell Tower inferno due to cost-cutting, the city’s wealthiest residents became even richer.
By Eric London, 21 May 2018
The social needs of the working class can be met and its democratic rights defended only by expropriating the wealth of the super-rich.
By Eric London, 21 April 2018
A report by Thomas Piketty shows that the Democratic Party in the US, the Labour Party in Britain and the Socialist Party in France have become the preferred parties of dominant sections of the ruling elite.
No money for teacher pay or textbooks, but…
By Barry Grey, 18 April 2018
A series of reports released over the past week reveal that corporate America and the financial oligarchy are wallowing in record levels of wealth.
By Margot Miller and Dennis Moore, 10 February 2018
WSWS reporters recently spoke to rough sleepers on the streets of Manchester in north west England.
By Tom Peters, 25 January 2018
Prime Minister Ardern’s announcement prompted an avalanche of praise and glorification of her Labour Party government.
By Nick Beams, 24 January 2018
While attention is focused on the headline predictions of a rise in growth, there are warnings that the spurt may not last.
By Barry Grey, 28 December 2017
It is impossible to seriously address a single major social issue without breaking the political and economic stranglehold of the financial oligarchy over society.
By Niles Niemuth, 15 December 2017
The inaugural World Inequality Report published by economist Thomas Piketty and his colleagues documents the rise in global income and wealth inequality since 1980.
By Patrick Martin, 2 December 2017
There is an element of desperation in the frenzy in Washington to engineer one more transfusion of financial resources from working people into the sclerotic veins of the Wall Street addicts.
By Trévon Austin, 20 November 2017
According to a new report from the United Nations, nearly one in ten children are in child labor globally, with nearly half of these engaged in “hazardous work.”
By Eric London, 10 November 2017
According to a new report by the Institute for Policy Studies, Jeff Bezos, Bill Gates and Warren Buffett now own more wealth than the poorest half of the US population, some 160 million people.
By Andre Damon, 27 October 2017
As the ultra-rich grow older and wealthier, they are increasingly preoccupied with the question of “succession.”
By Richard Tyler, 21 October 2017
Galizia was well known for her exposures of corruption and criminality at the top of Maltese politics and business.
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.