Tag Archives: wealth

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 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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Our Growing Wealth Gap




By GREGORY N. HEIRES The evidence keeps coming in that the economic recovery has benefited the affluent while leaving behind the rest of us. Maybe it’s time to acknowledge that we live in a plutocracy. The country’s wealth gap between … Continue reading






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The Global Economic Divide




By GREGORY N. HEIRES With wealth rising at probably the fastest pace on record, the world’s richest 1 percent own nearly 50 percent of global assets. The Credit Suisse Research Institute’s 2014 “Global Wealth Report” finds that the world’s financial … Continue reading






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An Economic Recovery for the 1 Percent




By GREGORY N. HEIRES The evidence just keeps coming in: The country’s economic elites are the only ones who have benefited from the so-called economic recovery. The triennial Survey of Consumer Finances by the Federal Reserve Board, released this month, … Continue reading






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The Foreclosed Dreams of African Americans




By GREGORY N. HEIRES The housing crisis has led to the foreclosure of the homes of 10 million people–equivalent to the population of Michigan. The foreclosures have particularly devastated the African-American community, which lost over half its wealth because of … Continue reading






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Inequality Gone Wild




By GREGORY N. HEIRES We have a winner-take-all global economy, a malady that undermines democracy, distorts economic development and fuels inequality. Timed to coincide with the meeting of the global economic elite at the World Economic Forum in Davos, Switzerland, … Continue reading






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As the 1 Percent Leaves the 99 Percent in the Dust, Bush’s Chief Economist is Smiling




 By GREGORY N. HEIRES Perhaps you shouldn’t be surprised that the chief economist during George W. Bush’s presidency seems happy that economic inequality in our country is at its most extreme since the Great Depression. After all, the Bush administration … Continue reading






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