Nation’s top 1 percent now have greater wealth than the bottom 90 percent


The wealth gap is growing faster than the income gap — and now, if all U.S. wealth is thought of as 100 slices of pie, the wealthiest one fifth of households would have 90.

The wealthiest 1 percent of American households own 40 percent of the country’s wealth, according to a new paper by economist Edward N. Woolf. That share is higher than it has been at any point since at least 1962, according to Woolf’s data, which comes from the federal Survey of Consumer Finances.

From 2013, the share of wealth owned by the 1 percent shot up by nearly […]

LSU gets millions in BP oil settlement money to study how to make drilling in Gulf safer

Billions at stake as latest phase of BP civil trial opens _lowres

Louisiana researchers are getting the lion’s share of $10.8 million of BP oil settlement money to figure out ways to make offshore drilling safer and prevent disasters like the 2010 Deepwater Horizon spill. The National Academies of Sciences, Engineering and Medicine announced the distribution of the $10.8 million in awards on Thursday, with LSU engineering professor Wesley … ( continue reading )
Associated Press file photo — In this April 21, 2010, file image provided by the U.S. Coast Guard, fire boat response crews battle the blazing remnants of the offshore oil rig Deepwater Horizon. Louisiana researchers are […]

Black women are earning more college degrees, but that alone won’t close race gaps

Reeves_Education_Race_Gap1

There are wide, stubborn economic gaps between black and white households in the U.S. Why? Many factors are at work, of course, including lower rates of upward mobility , discrimination in the labor market , big differences in rates of incarceration , disparities in access to quality education , historic exclusion from home ownership , and so on.

College education is often seen as a powerful tool to close race gaps. But it is at best only a partial answer, for four reasons:

> the gap in college achievement is as wide as ever black Americans with a BA are […]

LSU gets millions in BP oil settlement money to study how to make drilling in Gulf safer

Billions at stake as latest phase of BP civil trial opens _lowres

Louisiana researchers are getting the lion’s share of $10.8 million of BP oil settlement money to figure out ways to make offshore drilling safer and prevent disasters like the 2010 Deepwater Horizon spill. The National Academies of Sciences, Engineering and Medicine announced the distribution of the $10.8 million in awards on Thursday, with LSU engineering professor Wesley … ( continue reading )
Associated Press file photo — In this April 21, 2010, file image provided by the U.S. Coast Guard, fire boat response crews battle the blazing remnants of the offshore oil rig Deepwater Horizon. Louisiana researchers are […]

LSU gets millions in BP oil settlement money to study how to make drilling in Gulf safer

Billions at stake as latest phase of BP civil trial opens _lowres

Louisiana researchers are getting the lion’s share of $10.8 million of BP oil settlement money to figure out ways to make offshore drilling safer and prevent disasters like the 2010 Deepwater Horizon spill. The National Academies of Sciences, Engineering and Medicine announced the distribution of the $10.8 million in awards on Thursday, with LSU engineering professor Wesley … ( continue reading )
Associated Press file photo — In this April 21, 2010, file image provided by the U.S. Coast Guard, fire boat response crews battle the blazing remnants of the offshore oil rig Deepwater Horizon. Louisiana researchers are […]

LSU gets millions in BP oil settlement money to study how to make drilling in Gulf safer

Billions at stake as latest phase of BP civil trial opens _lowres

Associated Press file photo — In this April 21, 2010, file image provided by the U.S. Coast Guard, fire boat response crews battle the blazing remnants of the offshore oil rig Deepwater Horizon. Louisiana researchers are getting the lion’s share of $10.8 million of BP oil settlement money to figure out ways to make offshore drilling safer and prevent disasters like the 2010 Deepwater Horizon spill.

The National Academies of Sciences, Engineering and Medicine announced the distribution of the $10.8 million in awards on Thursday, with LSU engineering professor Wesley Williams claiming the largest share.

His $4.9 million project will study […]

What Ancient Houses Tell Us About McMansions and Inequality

Archaeological ruins in the outline of a house, with trees and mountains in the background

A larger house in El Palmillo, a site in Oaxaca, Mexico. Photo: Linda Nicholas. It’s not hard to tell rich neighborhoods from poor neighborhoods. Wealthy parts of town generally have nicer cars, clean, well-groomed lawns, and, most strikingly, giant sprawling mansions. It’s nothing new: across cultures, wealth and power have been tied to large homes for thousands of years.

A group of scientists, including Field Museum anthropology curator Gary Feinman, recently explored the link between house sizes and inequality. Based on a sample of more than 60 cases, they discovered that on the whole, patterns of inequality in Eurasia over […]

LSU gets millions in BP oil settlement money to study how to make drilling in Gulf safer

Billions at stake as latest phase of BP civil trial opens _lowres

Louisiana researchers are getting the lion’s share of $10.8 million of BP oil settlement money to figure out ways to make offshore drilling safer and prevent disasters like the 2010 Deepwater Horizon spill. The National Academies of Sciences, Engineering and Medicine announced the distribution of the $10.8 million in awards on Thursday, with LSU engineering professor Wesley … ( continue reading )
Associated Press file photo — In this April 21, 2010, file image provided by the U.S. Coast Guard, fire boat response crews battle the blazing remnants of the offshore oil rig Deepwater Horizon. Louisiana researchers are […]

Asia’s New Politics of Outrage


Stunning mini-revolutions have erupted in recent months in two of the world’s largest Muslim countries. The first shock came in Indonesia, where a little-known group of activists led a mass protest against the Christian governor of Jakarta. Accused of disrespecting the Prophet, the governor, a close ally of the country’s president Joko Widodo, is now in prison . In Pakistan in late November, another pop-up political outfit besieged the capital city Islamabad, forcing the government to concede to all their demands, which included the harsh implementation of blasphemy laws.

Neither country suffers from a scarcity of laws aimed at detractors […]

N.C. Senators vote to ignore the poor, serve the rich


Richard Burr and Tom Tillis voted enthusiastically last week for the Senate tax bill. No hesitation on the home front. The North Carolina boys are all in for the McConnell-Trump knavery.

Burr and Tillis know, or should, the following. The United States is the wealthiest country on earth. It also has higher poverty, and especially, child poverty rates than any other advanced nation. It has the advanced world’s greatest income inequality – the largest gaps between rich and poor. It has among the worst economic mobility rates – if you’re born poor here, you are more apt to stay that […]