There are two main schools of thought on income inequality: The fatalists, who contend that rising inequality is the ineluctable result of a changing economy, and the redistributionists, who blame a skewed tax system and lethargic government. Perhaps it’s time to consider a third.
Cynthia and Gerald Matthews left a booming property market in Ottawa, the Canadian capital, to buy a home in Bloomington, Indiana, where real estate prices are beginning to recover from a five-year slump.
Jeffrey Zients made tens of millions of dollars building consultancies, helped bring Major League Baseball back to Washington and salvaged Obamacare’s rollout. He also counted Nelson Mandela among his wedding guests.
Dean Maki , chief U.S. economist at Barclays Capital, says the worst is over for the U.S. housing sector. Dean Baker , co-director of the Center for Economic and Policy Research, expects another painful decline.
Lawrence Summers’s personal website includes two biographies and traces his career from Harvard University president to director of President Barack Obama’s National Economic Council. The site says he’s now teaching at Harvard and serving on corporate and nonprofit boards.
President Barack Obama struck a familiar chord when he named Elizabeth Warren to help set up a new consumer protection bureau: putting a prominent figure in an advisory role to validate his economic message.