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People Before Profits • Stop Foreclosures • Break Up Big Finance • End the Wars
Updated: 5 min 37 sec ago

America’s Bizarre Income Distribution For Children

February 17, 2018 - 10:00am
In the Nordic countries, they have relatively few children in the lower class (and even fewer in the extreme lower class). They also have relatively few children in the upper class. But they have big middle classes. Around 65 percent of children in those countries have incomes that are 150% to 300% of the poverty line, which is equivalent to 75% to 150% of the median income. In the US, on the other hand, there is a big lower class that is even larger than the middle class (so defined). And then there is also a relatively large group of children with incomes well above the US median, i.e. rich kids. While the Nordic distribution looks like a bell curve with the overwhelming majority of kids clustered near the middle, the American distribution is a pyramid. If you want to fix this bizarre distribution, the way forward is pretty simple.
Categories: Friends of GEO, SE News

How Rich Are The Rich? If Only You Knew

February 14, 2018 - 9:00am
“If poor people knew how rich rich people are, there would be riots in the streets.” Actor and comedian Chris Rock made this astute statement during a 2014 interview with New York magazine, referring to the yawning gap between rich and poor. In so doing, he stumbled upon a key challenge in the study of inequality. What’s the best way to measure it? Most inequality studies have focused on income – measures of which are widely available. However, being rich is not about a single year of earnings but rather about the accumulation of wealth over time. In the past, quantifying that has been tricky. The wealthy would probably prefer we stay in the dark about how rich they are, presumably to avoid the aforementioned riots.
Categories: Friends of GEO, SE News

Report: US And Switzerland, Two Most Corrupt Countries In World

February 13, 2018 - 12:00pm
In this era of “post-truth” – and even much earlier – it has become more evident than ever that one thing is to preach transparency, rights, fairness, the rule of law, etc., and quite a different thing is to apply these principles to oneself. See what’s on. A new study by Tax Justice Network has revealed that Switzerland is the world’s most-corrupt country, with a high secrecy score of 76. The US ranks second, while several European countries hold high positions in the list, ahead of many poor, developing nations. Switzerland is the grandfather of the world’s tax havens, one of the world’s largest offshore financial centres, and one of the world’s biggest secrecy jurisdictions or tax havens, on 30 January 2018 said the Tax Justice Network’s report Financial Secrecy Index – 2018 Results. The Tax Justice Network is an independent international advocacy group launched in 2003 (see their history here).
Categories: Friends of GEO, SE News

Worker Cooperatives Offer Real Alternatives To Trump’s Retrograde Economic Vision

February 13, 2018 - 10:00am
Announcing his presidency in 2016, Donald Trump promised the nation that he’d become “the greatest job president God ever created.” His plan to accomplish this rested on a retrograde economic vision that would “make America great again,” by restoring waning coal and manufacturing jobs, as well as putting an end to the alleged assault on American work by foreign immigrants and global competition. A year later, his attempts to realize this vision have largely consisted of backwards motion. In October, he rolled back the Clean Power Plan, arguing that carbon emissions regulations, rather than the widespread shift away from fossil fuels, were responsible for the decline of U.S. coal. While the striking of these environmental protections leaves the door open for corporations to exacerbate climate change, it has done little to uplift the so-called “Rust Belt,” where he garnered so much support.
Categories: Friends of GEO, SE News

First U.S. City To Ban Fossil Fuel Expansion Offers Roadmap For Others

February 12, 2018 - 9:00am
On a clear July morning three years ago, dozens of environmental activists pushed their kayaks into the Willamette River in Portland while others rappelled 400 feet from the top of St. Johns Bridge in an attempt to block a Shell Oil ship and its drilling equipment from leaving the port and entering Alaskan waters. A key piece of Shell’s arctic drilling fleet, the vessel had arrived in Portland for repairs but its departure was delayed by protesters chanting “coal, oil, gas, none shall pass!” during two days of civil disobedience that became known as Summer Heat. By the time the vessel finally sailed, the stage had been set for what would be a yearlong battle, culminating in an ordinance that banned construction and expansion of fossil fuel infrastructure in the city.
Categories: Friends of GEO, SE News