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Rich Americans are embarrassed by Donald Trump
It must suck to have spent good money on an office or apartment in an upscale business with "TRUMP" on the front of it, only to wake up one morning and discover that your real estate investment has...
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Income inequality makes the 1% sad, too
A study from the notorious socialists at the Harvard Business Review analyzed data from the Gallup World Poll and the World Top Incomes Database and found that in countries with a large degree of...
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US Treasury Dept wants to know which offshore crimelords are buying all those...
It's an open secret that the world's luxury property boom is being driven by crooked rich people in the former Soviet Union, Asia, and Sub-Saharan Africa who have looted their homelands and want to...
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Jeremy Corbyn proposes ban on dividends from companies that don't pay living...
The left-wing leader of the UK Labour Party has set out a pair of proposed reguations for British limited liability corporations that will challenge their ability to sponge off the tax-payer and...
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Research: increased resident participation in city planning produces extreme...
Urban planning advocates like Jane Jacobs argued that people who live in neighborhoods should be active in the planning decisions around their homes. (more…)
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Company that pampers rich people at Burning Man won't give up
"Festival Concierge Service" is a European company that advertises a pampered, all-inclusive Burning Man trip to wealthy people -- a major no-no at the festival. Despite being blacklisted, ejected and...
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Tim O'Reilly schools Paul Graham on inequality
Y Combinator founder and essayist Paul Graham's essay on the inevitability -- and desirability -- of income inequality sparked many scathing rebuttals, some of them quite brilliant, but the best so...
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All your booze comes from a handful of titanic global corporations
Mergers and acquisitions mania: not just for banks, oil companies, publishing, movie studios, airlines, cable, phone companies, retail chains and family restaurants anymore. For years, the booze...
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Microsoft billionaire Paul Allen wipes out coral reef with his superyacht
The anchor chain of the MV Tatoosh, the 43d largest yacht in the world, destroyed 14,000 square feet worth of reef in the Caymans' West Bay replenishment zone, wiping out more than 80% of the reef....
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The Onion's new owner is Hillary Clinton's most lavish financial backer
Univision, a hugely successful Spanish language broadcaster, bought humor newspaper/site The Onion two weeks ago, and in so doing, transferred control over a site that has produced scathing comedy at...
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Guess who donated all the money to Black Americans for a Better Future Super...
The Super PAC has $417,250 to spend on the upcoming election. $400K of that came from Robert Mercer, a white billionaire hedge-fund titan who is the major funder of the Ted Cruz campaign. (more…)
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Who funds the "Millennials Rising" Super PAC? Rich old men.
They started as "Millennials for Jeb" and now they're called "Millennials Rising," but since the beginning, the dark-money-spouting Super PAC has been 95% funded by rich white guys over the age of 60....
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Toronto City Council defies mayor, demands open, neutral municipal broadband
After years of fumbling, deference and mismanagement, Canada's telcoms regulator, the CRTC, laid down a landmark net neutrality rule and demanded that Bell, the nationally founded telcoms giant, would...
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Austerity Robin Hood: a billionaire who takes from "scroungers" and gives to...
A beautiful essay in the London Review of Books traces the twists and turns of the Robin Hood story over time, to the era of austerity, where "robbing from the rich and giving to the poor" takes on a...
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Chinese millionaire sues himself through an offshore shell company to beat...
China's millionaires, having looted their country, are anxious to get their money out of reach of the Politburo, to guard against confiscation should the political tides turn. Only one problem: the...
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Forced arbitration clauses are a form of wealth transfer to the rich
A federal judge called America's move to forced arbitration and bans on class-action suits -- bans favored and enabled by Scalia -- "among the most profound shifts in our legal history." (more…)
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Harvard Business Review: Stop paying executives for performance
Two business-school researchers have published a literature survey in the Harvard Business Review that makes the case against using performance-pay to motivate senior managers. (more…)
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Whuffie would be a terrible currency
My latest Locus column, Wealth Inequality Is Even Worse in Reputation Economies, explains the ways in which "reputation" makes a poor form of currency -- in a nutshell, reputation doesn't fulfill most...
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"More frightened than bigoted": Trumpism dominated by trade, not race
After an exhaustive (and, no doubt, exhausting) survey of Trump's speeches and interviews with his supporters, Thomas Frank concludes that while Trump's outlandish statements get all the headlines,...
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America's universities: Hedge funds saddled with inconvenient educational...
Public and private universities alike have been transformed into financial shell-games for Wall Street's wealthiest hedge-funds, while tuition and student debt soar, adjuncts are exploited, and the...
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