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How women in rural India turned courage into capital

By Chetna Gala Sinha ~ TED ~ When bankers refused to serve her neighbors in rural India, Chetna Gala Sinha did the next best thing: she opened a bank of her own, the first ever for and by women in the country. In this inspiring talk, she shares stories of the women who encouraged her and continue to push her to come up with solutions for those denied traditional financial…

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Separate is still unequal: How patterns of occupational segregation impact pay for black women

By Madison Matthews and Valerie Wilson ~ Economic Policy Institute ~ August 7th was Black Women’s Equal Pay Day, the day that marks how long into 2018 an African American woman would have to work in order to be paid the same wages her white male counterpart was paid last year. On average, in 2017, black women workers were paid only 66 cents on the dollar relative to non-Hispanic white…

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A Decent Standard of Living For All

By The Rainforest Alliance The Rainforest Alliance believes that workers around the world should be paid enough money to provide a decent life for themselves and their families. That’s why we co-founded the Global Living Wage Coalition (GLWC), a group of NGOs working with two leading researchers to identify how much money workers need to afford a decent standard of living for themselves and their families. Because costs can vary…

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Why wages are going nowhere

By Robert Reich ~ Nation of Change ~ The combination of high corporate profits and growing corporate political power has created a vicious cycle. The official rate of unemployment in America has plunged to a remarkably low 3.8%. The Federal Reserve forecasts that the unemployment rate will reach 3.5% by the end of the year. But the official rate hides more troubling realities: legions of college grads overqualified for their…

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CEO compensation surged in 2017

By Lawrence Mishel and Jessica Schieder ~ Economic Policy Institute ~ What this report finds: This report looks at trends in chief executive officer (CEO) compensation, using two different measures. The first measure includes stock options realized (in addition to salary, bonuses, restricted stock grants, and long-term incentive payouts). By this measure, in 2017 the average CEO of the 350 largest firms in the U.S. received $18.9 million in compensation,…

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The resurgence of a culture of makers: re-localizing production

By Daniel Christian Wahl ~ Hackernoon ~ One way to empower local communities and their regional economies to manifest their visions of a better future is to re-localize production and consumption and thereby strengthen regional economies. There is an important role for international trade and global exchange of goods and services, but not when it comes to meeting basic regional needs. Wherever feasible we should meet our needs as locally…

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Can a Cap Be Placed on the Incomes of the Super-Rich?

By Sam Pizzigati, Polity Books ~ Truthout ~ Is there a means to eliminate the financial class of the super-rich? Would this help reduce income inequality were it come to pass? Sam Pizzigati makes the case that the answer is “yes” in his book, The Case for a Maximum Wage. The following is an excerpt from the book. Economists and epidemiologists, psychologists and political scientists: Researchers from multiple disciplines have…

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Forward Together With the Poor People’s Campaign

By Elizabeth Warren ~ Common Dreams People living in poverty across the United States?—?from California to Kentucky to Michigan to West Virginia?—?told us their stories On June 12th, 2018, Reverend William J. Barber II hosted a discussion on poverty for members of Congress. People living in poverty across the United States?—?from California to Kentucky to Michigan to West Virginia?—?told us their stories. We heard from a victim of a predatory…

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How Rising Inequality is Stalling Economies by Crippling Demand

By Stephen Bell ~ The Conversation Rising inequality is a concern across the developed economies, including Australia where top earners’ pay has soared to a 17-year high while ordinary workers’ wage growth has been the lowest on record. And that’s ultimately bad news for economic growth. This is longer than the usual Conversation article, so allow some time to read and enjoy. ________________________________________ In the last decade or more, economic…

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Why the War on Poverty in the US Isn’t Over, in 4 Charts

By Robert L. Fischer ~ The Conversation On July 12, President Trump’s Council of Economic Advisers concluded that America’s long-running war on poverty “is largely over and a success.” I am a researcher who has studied poverty for nearly 20 years in Cleveland, a city with one of the country’s highest rates of poverty. While the council’s conclusion makes for a dramatic headline, it simply does not align with the…

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