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Latest Economic inequality Stories

2014-01-03 15:51:23

Global energy inequality lessens, but for how long? The 18th century writer Adam Smith provided a workable metaphor for the way society utilizes resources. In his book "The Wealth of Nations," he argued that even as individuals strive, through personal industry, to maximize their advantage in life, they inadvertently contribute---as if under the influence of a "hidden hand"---to an aggregate disposition of wealth. Well, if Smith were a physicist and alive in the 21st century he might be...

2013-10-03 16:07:32

Wealth inequality can encourage people to cooperate when they would otherwise have no incentive to do so, according to a new study published in Nature Communications. "In many groups and societies, the temptation to defect is high, which means that cheaters are much better off than cooperators," says IIASA researcher Ulf Dieckmann, who worked on the study along with IIASA researcher Ádám Kun. For example, he says, if a train ticket is very expensive and the probability that cheaters are...

2013-03-19 23:02:52

Reece Freeman, of ChooseWhat.com, introduces why a "Living Wage" makes more sense than "Minimum Wage" for small businesses after President Obama's call to raise the minimum wage to $9 an hour. Austin, TX (PRWEB) March 19, 2013 At this year´s State of the Union address, President Obama laid out a series of plans for the first year of his second term. One of the most controversial ideas introduced was the plan to raise the minimum wage from $7.25 to $9.00 per hour and tie this wage to...

2013-02-27 14:07:43

Same gain in income produces far greater wealth for white households than black families New research shows the dramatic gap in household wealth that now exists along racial lines in the United States cannot solely be attributed to personal ambition and behavioral choices, but rather reflects policies and institutional practices that create different opportunities for whites and African-Americans. So powerful are these government policies and institutional practices that for typical...


Word of the Day
cock-a-hoop
  • Exultant; jubilant; triumphant; on the high horse.
  • Tipsy; slightly intoxicated.
This word may come from the phrase 'to set cock on hoop,' or 'to drink festively.' Its origin otherwise is unclear. A theory, according to the Word Detective, is that it's a 'transliteration of the French phrase 'coq a huppe,' meaning a rooster displaying its crest ('huppe') in a pose of proud defiance.' Therefore, 'cock-a-hoop' would 'liken a drunken man to a boastful and aggressive rooster.'
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