- The finance industry is to blame for the growing divide between the rich and poor in the United States, says Nobel Prize-winning economics professor Joseph Stiglitz. In an interview with Spiegel, he accuses the industry of preying on the poor and buying government policies that help them get richer.
- Wal-Mart workers on strike; Consumers Should Join Them and Boycott Wal-Mart
Spiegel On Line
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Women pose for photos near a homeless man during New York Fashion week this month. Reuters
October 9, 2012 | At Columbia University, which is located just blocks from Harlem in Manhattan’s West Side, wealth and poverty are closer together than they are in many places in New York City. This is where American economist and 2001 Nobel Prize winner Joseph Stiglitz works as a professor. The Gary, Indiana native has spent years examining social inequality. His first personal experience with the issue came when, as a young boy, he asked why his nanny wasn’t caring for her own children. Later, as the World Bank’s chief economist, he studied the phenomenon on a global level. In June, he published a book on the topic entitled “The Price of Inequality: How Today’s Divided Society Endangers Our Future,” which has just been released in German as well. In a SPIEGEL interview, Stiglitz discusses how wealth disparity is dividing America and how Europe can best overcome the euro crisis.
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Wal-Mart workers on strike; Consumers Should Join Them and Boycott Wal-Mart, Kevin Zeese, Occupy Washington, DC
Here is a series of articles and pictures about Wal Mart strikes happening in multiple sites across the country.
October 24, 2012 | Though there wasn't too much talk of specific politicians last night, the election certainly hung in air as the two most cited economists in the world met on stage in New York City to discuss where the economy is headed.
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October 19, 2012 | The One Percent is not only increasing their share of wealth — they’re using it to spread millions among political candidates who serve their interests. Example: Goldman Sachs, which gave more money than any other major American corporation to Barack Obama in 2008, is switching alliances this year; their employees have given $900,000 both to Mitt Romney’s campaign and to the pro-Romney super PAC Restore Our Future. Why? Because, says the Wall Street Journal, the Goldman Sachs gang felt betrayed by President Obama’s modest attempts at financial reform.