The Ad Industry Keeps Selling An American Dream That Most Aren’t Living


Would you consider yourself middle class? Chances are, whether you’re wealthy, lower income, or actually somewhere in the middle, you still identify as middle class. There are plenty of reasons why that is–“middle class” might be the most used word in modern politics–but a new University of Wisconsin study posits that it could also be because ads are telling us we’re middle class.

The study “Marketing Social Class and Ideology in Post-World-War-Two American Print Advertising” appears in the Journal of Macromarketing and reviewed more than 1,300 randomly selected print ads from 1950 to 2015. It found that the middle, upper […]

Deepwater Horizon oil spill bill puts BP in deeper water

BP

The Deepwater Horizon oil spill happened in 2010 The company’s total bill for the disaster has now hit $65billion (£47.2billion).

Shares in the energy giant fell 141⁄2p to 5181⁄4p as it said it would take a further $1.7billion charge resulting from higher than expected compensation settlements in the fourth quarter of last year.

It said claims resolved in recent months were about seven times higher than anticipated, mainly owing to “significantly higher claims determinations” issued by the Court Supervised Settlement Program.The scheme was set up after the spill and included nearly 400,000 cases brought by individuals and businesses, ranging from tourism […]

Gap between rich and poor shrinking due to good policy, researcher says

Khazanah Research Institute’s director of research, Allen Ng, delivers his presentation during Kazanah’s seminar on inequality and Income distribution in Kuala Lumpur January 18, 2018. — Picture by Yusof Mat Isa KUALA LUMPUR, Jan 18 — The disparity of incomes between the rich and the poor has been narrowing since the 1970s due to good governance and sound economic policies, a researcher said today.

Allen Ng from Khazanah Research Institute said the index to measure this — Gini coefficient — reduced to 0.39 last year from 0.51 in 1970.

The smaller the figure, the narrower the disparity of incomes.“One reason why […]

Economic Inequality

Wealth Inequality in America

Wealth Inequality in America 7.4 Income and Wealth Inequality: Crash Course Economics #17 8.7 Wealth Gap: Last Week Tonight with John Oliver (HBO) 7.4 Noam Chomsky on Economic Inequality 8 Title : Wealth Inequality in America

Summary : Infographics on the distribution of wealth in America, highlighting both the inequality and the difference between our perception of inequality and the actual numbers. The reality is often… Title : Income and Wealth Inequality: Crash Course Economics #17

Summary : Inequality is a big, big subject. There’s racial inequality, gender inequality, and lots and lots of other kinds of inequality. This […]

Community-led R&D can power job growth in small-town America


Above: An Innovation Collective meeting Over the past few years, economic inequality has become a topic of focus for economists, politicians, and leaders of industry. Tech titans are starting to discuss concepts like the future of capitalism , universal basic income , and wealth redistribution as the technology they’ve developed starts to automate more and more jobs.

New York, Los Angeles, San Francisco, and Seattle have seen average wages rise at an unprecedented rate, while smaller towns across middle America have, in many cases, lost jobs and businesses . This has been compounded by a mix of highly skilled talent […]

Deepwater Horizon oil spill bill puts BP in deeper water

BP

The Deepwater Horizon oil spill happened in 2010 The company’s total bill for the disaster has now hit $65billion (£47.2billion).

Shares in the energy giant fell 141⁄2p to 5181⁄4p as it said it would take a further $1.7billion charge resulting from higher than expected compensation settlements in the fourth quarter of last year.

It said claims resolved in recent months were about seven times higher than anticipated, mainly owing to “significantly higher claims determinations” issued by the Court Supervised Settlement Program.The scheme was set up after the spill and included nearly 400,000 cases brought by individuals and businesses, ranging from tourism […]

INCOME INEQUALITY SOCIAL MOBILITY

AND ECONOMIC GROWTH*

Federico Cingano, ELS Employment Analysis Division

*Source: OECD (2015) In It Together: Why less inequality benefits all OECD Publishing, Paris.2/15• Long-standing interest in data collection and analysis • Early works → mid 1970s; regular data collection → mid 1990s• Documented the (increasing) patterns of income inequality across MCs in many publications • Latest one warns: “The gap between rich and poor is at its highestlevel since 30 yearsâ€OECD work on income distribution …Shares of bottom, middle and top incomes in total income, OECD average 1985 to 2011/12, 1985 = 10.800.901.001.101.201985 1990 1995 2000 2005 2010Traditional definitionbottom 10% middle […]

Gene Nichol: In the U.S., the inequality gap is ever widening


In December, as Congress enacted a gigantic tax cut for the richest Americans, moved to increase the taxes, over the next decade, of those making under $70,000, and reduced the health care coverage rolls by millions, Philip Alston, the United Nations rapporteur on extreme poverty and human rights, toured the country to determine whether American poverty undermines human liberty. He didn’t have much trouble coming to a conclusion.

Alston’s report finds that the United States is, by almost all measures, the world’s richest country. It also has become, broadly speaking, the “most unequal society in the world.” Our “exceptionalism” is […]

Senate committee vote directs all of BP settlement funds to South Mississippi | The Sun Herald


A Blue Heron stands among marsh grass along the Pascagoula River in October 2010, a few months after the oil spill. On Monday the Senate Appropriations Committee passed a bill that would direct 100 percent of the BP settlement money paid to the state into a Gulf Coast Restoration Reserve Fund to fund projects to improve the ecosystem and economy on the Coast.
TIM ISBELL
TTIsbell@sunherald.com File

How great cities enable you to live longer

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Low income people live longer in dense, well-educated, immigrant-friendly cities

Some of the most provocative social science research in the past decade has come from the Equality of Opportunity Project , led by Stanford economist Raj Chetty. The project’s major work looks at the factors contributing to intergenerational economic mobility–the extent to which different communities actually enable the American dream of people in the lowest income groups being able to move up economically. In another research project , Chetty and his colleagues have looked at how life expectancy varies by community.

The bulk of the paper concerns the relationship between […]