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Category: Economy

The Paid-What-You’re-Worth Myth

by Robert Reich | Mar 20, 2014 | Economy

  It’s often assumed that people are paid what they’re worth. According to this logic, minimum wage workers aren’t worth more than the $7.25 an hour they now receive. If they were worth more, they’d earn more. Any attempt to force employers to pay them more will only kill jobs. According to this same logic, […]

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Education as Answer to Inequality?

by Jack Metzgar | Mar 18, 2014 | Economy

  The Bureau of Labor Statistics releases a study of U.S. occupations every two years, showing the number of jobs in each occupation, its educational requirements, and how much it pays. Though the specifics change, every two years the study shows that a large majority of jobs now and in the future require no education […]

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Wall Street Bonuses vs the Minimum Wage

by Sarah Anderson | Mar 13, 2014 | Economy

  Purveyors of Ferraris and high-end Swiss watches keep their fingers crossed toward the end of each calendar year, hoping that the big Wall Street banks will be generous with their annual cash bonuses. New figures show that the bonus bonanza of 2013 didn’t disappoint. According to the New York State Comptroller’s office, Wall Street […]

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On the Web’s Silver Anniversary

by Sam Pizzigati | Mar 13, 2014 | Economy

  Exactly 25 years ago, the British computer scientist Tim Berners-Lee (pictured) conceptually “invented” the World Wide Web—and set in motion a process that would rapidly make the online world an essential part of our daily lives. By 1995, 14 percent of Americans were surfing the web. The level today: 87 percent. And among young […]

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Striking to Save a Great University

by Marjorie Elizabeth Wood | Mar 13, 2014 | Economy

  Earlier this year, hundreds of faculty members at the University of Illinois-Chicago canceled their classes and went on strike. In the first faculty walkout in UIC history, they picketed the campus for two days. What could professors possibly have to complain about? Nearly everything. And it might not be what you think. Today, more […]

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