Category Archives: Economics

Stealing Wages

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By GREGORY N. HEIRES Retailers bemoan the estimated $14.4 billion they lose each year to shoplifting. What they don’t like to acknowledge is that they steal more than that amount—an estimated $15 billion—by paying their workers less than the minimum … Continue reading






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The Persistent Racial Wealth Gap




By GREGORY N. HEIRES The racial wealth gap persists—with little hope of narrowing anytime soon. Today, the disparity in household wealth between whites and blacks is a national disgrace. In 2013, the average household wealth of blacks was $85,000 compared … Continue reading






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The Minimum Wage and the Divide Between Wall Street and Main Street




By GREGORY N. HEIRES It’s always eye-opening to look at the divide between Wall Street and Main Street. The income gap gives you a sense of the depth and cost of inequality in the country, where an estimated 42 percent … Continue reading






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Privatizing Public Services: A Free-Market Fiasco




By GREGORY. HEIRES Small government advocates tout privatization as a way to reduce costs and improve services in the public sector. But around the country, the privatization of state and local government services has a shoddy track record. Governments started … Continue reading






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The Instability of Labor and the Gig Economy




By GREGORY N. HEIRES The gig economy is receiving a lot of attention these days as online businesses like Uber car service and Airbnb Inc. hoteliers prosper. Optimists predict online businesses will continue to grow rapidly and workers will increasingly … Continue reading






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The Cost of Global Inequality




By GREGORY N. HEIRES Inequality around the world is deepening as the international elite sets the rules of the global economy, which allows them to accumulate vast wealth and income at the expense of everyone else. The widening inequality stifles … Continue reading






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The Dwindling Middle Class




By GREGORY N. HEIRES The middle class is dwindling as the polarization between the rich and the poor in the United States deepens. Middle-income Americans used to outnumber lower- and upper-income Americans four decades ago. But that’s no longer true. … Continue reading






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Plutocracy USA




Plutocracy U.S.A. By GREGORY N. HEIRES Let’s be honest: The United States has become a plutocracy. Reports about inequality typically focus on the country’s growing income gap, now the most skewed since the Great Depression. But the country’s class and … Continue reading






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Top 100 CEO Nest Eggs Worth Savings of 51 Million Families




By GREGORY N. HEIRES As traditional pensions disappear and millions of Americans worry about being unable to enjoy a comfortable retirement, the typical CEO has a nest egg of nearly $49.3 million. The largest 100 CE0 retirement packages were worth … Continue reading






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Corporations Increase Offshoring to Dodge Taxes




By GREGORY N. HEIRES Fortune 500 companies are increasingly using offshore tax havens, depriving the U.S. government of an estimated $90 billion in federal income taxes each year. This corporate shell game puts a greater tax burden on ordinary Americans. … Continue reading






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