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World's richest 0.1% have boosted their wealth by as much as poorest half

Over the past few weeks Clinton has hired staff for her campaign and found office space in Brooklyn for campaign headquarters.

At the apex of the Raj

On Sunday all items were 40 percent off. On Tuesday glassware was 50 percent off.

The Woman in the Window

On Wednesday fleece products were 60 percent off. And polls show that Americans continue to see the economy as the most important issue facing the country. The research Chetty and his team have done shows that children who grow up in parts of the country with less segregation, less income inequality, stronger schools, more social capital, and stable families are more likely to improve their social standing as adults.

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He and his colleagues are preparing to release policy prescriptions in coming months. Other researchers on his project said that people from different political backgrounds tend to seize on different parts of the work. Clinton has sent some soothing signals to the progressive wing of the party.


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During the Aspen Ideas Festival last year, Clinton was asked about income inequality and seemed to fuse the ideas from thinkers on both wings of the party. Her answer of noted the importance of bolstering the middle class with the notion of helping children move up the social ladder.

At the same time, mainstream parties have either been radicalised or considerably weakened. There are legitimate grievances of citizens that need to be addressed. But they have been stoked often by the worst among us.

Donald Trump taps white working-class anger in the United States but is backing a plan to make the country virtually a tax haven for the richest 0. If reactionary nationalists are talking about revolution but in fact entrenching a plutocratic status quo, then the same unfortunate trait can be found in progressive globalism. There is nothing inevitable about how much economic liberty the rich are afforded or how long stagnant incomes last.

To its credit, Europe shows the way: if the world follows its path, global inequality will decline. The continent is by no means perfect: there should be EU-wide taxes on the richest companies and individuals because they benefit the most from its tariff-free zone. Citizens must recover the idea that politics offers democratic protection, rooted in an egalitarian tradition. A laissez-faire approach has for too long subdued democracy and fostered a hyper-exploitative political economy.

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Adam, Eve and Paradise

Government spending on health, education and wellbeing is required for the meaningful exercise of citizenship. The rich must share the burden of common challenges — not just sail away in their tax-haven-registered yachts. Contemporary life rests on a fragile consensus that governance works because people believe it does. This faith rests on the rich pulling their weight.


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Which is why they should.