68 Matching Annotations
  1. Jun 2021
    1. As a result, Markovits calculates that three-quarters of elite income now originates from labor rather than inherited capital.

      Financialization of the economy may indicate that this isn't the case. What labor is really being done? Isn't more of it built on information and information flows?

      These numbers definitely need to be checked.

    2. The rich are also more skilled than ever.

      What level of rich are we talking about with this comparison? The uber-rich or the rich?

      The rich need at least some level of education to prevent themselves from being scammed certainly, but how hard do the uber-wealthy really need to work?

    3. Fifty, 60, 70 years ago, you could tell how poor somebody was by how hard they worked.
    4. A Harvard Business Review survey found that 62 percent of high-earning individuals work over 50 hours a week, more than a third work over 60 hours a week, and one in 10 work over 80 hours a week. According to Markovits, elites today work an average of 12 more hours per week than middle-class workers (the equivalent of 1.5 additional workdays).

      This may be the case for high-earners, but where do these people sit with respect to the higher elite or "leisure class"?

      Are these hard working high-earners a new class of people that has emerged that aren't the previous elite of the mid-1900s?

      What effect does the rise of finacialization (versus manufacturing or service sectors) since the 1970's have on this shift? Did these high-earners arise out of a hole in the market to service the elites on the highest rung up to make their wealth grow faster?

      There seems to be a hole in this argument with respect to the prior quote:

      Fifty, 60, 70 years ago, you could tell how poor somebody was by how hard they worked. Today, that relationship has been completely reversed. Elites work for a living. They work harder than they used to. They work harder in terms of brute hours than the middle class on average, and they get most of their income by working.

    1. Anita: Let’s begin by you telling me a little bit about migrating to the United States.Luisa: Migrating to the United States: okay. My parents had an extremely bad divorce - very, very, very bad divorce. My dad's family is on the wealthier side and a little bit on the powerful side, and my mom has no money nor connections, and she's poor. When they were divorcing, by the end of their marriage—I think it was the most awful marriage that I've seen—he was threatening her with taking us away and completely … you know she would never see us ever, so like a thief in the night, she grabbed my two sisters and I and she moved us to the States.

      Migration from Mexico, Reasons, Violence, Domestic Violence

    2. My dad's family is on the wealthier side and a little bit on the powerful side, and my mom has no money nor connections, and she's poor. When they were divorcing, by the end of their marriage—I think it was the most awful marriage that I've seen—he was threatening her with taking us away and completely …

      Mexico/ Before the US, Mexican Childhood, Family; Migration From Mexico, Reasons, Domestic Violence

  2. May 2021
    1. Right now, fewer than half a dozen tech firms concentrate huge resources on a small number of global post-graduate AI programmes around the world. They directly and indirectly influence the training and content of those programmes, especially through access to data-sets. Compliance of senior academics is easy to gain, however they individually rationalise it.

      The dominant culture being in a position of power and wealth makes it far easier to direct the future to ensure that the dominate culture stays in power and wealth.

      How does one "break this wheel" of power?

  3. Apr 2021
    1. This is the middle branch of Mount Tauris [Tibesti Mountains]. Many Saracens coming from the West pass through this mountain wishing to go to Mecca to see the arch of Mohamed that contains their Law.

      Mecca is considered the holy city of Islam, near Cairo, Egypt on the west side of Africa. When Mansa Musa made his pilgrimage, as is tradition for a Malian sovereign, he impressed the court so much with his offering that people wrote about it for decades to come. Looking further at his journey, we note that he left Niani and most definitely passed one of the branches of Mount Tauris (the Tibesti Mountains). It's incredibly interesting to think about how long this journey was, and the fact that he left such a large impression by his gifts and wealth was fascinating to me considering the era. In our readings, it also said he brought 10,000 of his followers, which is even more incredible that that many people made this perilous journey

    1. This black Lord is called Musse Melly and is the sovereign of the land of the negroes of Gineva [Ghana]. This king is the richest and noblest of all these lands due to the abundance of gold that is extracted from his lands.

      In this section, the atlas is referring to the Malian King, Mansa Musa. I was not aware that he was also called Musse Melly, but was able to infer due to the familiar image of him as well as the description of his wealth. As we know, Mansa Musa is still believed to be the richest human in world history. We also learned that Mansa Musa used his wealth to benefit his country, though this was not mentioned in this section.

    1. The majority of countries for which adequate data exist have seen rising inequality in income and wealth over the past several decades
    1. My surprise that no one is insulted by this is quickly overtaken by surprise that Venmo is condoning alcohol consumption among kindergarteners, the only group in America who is routinely asked, with educational toys like Leapfrog, to match short words with pictures.

      I appreciate what Barron is getting at here but I think he's taking an extremely contrarian stance to get at his point. Obviously Venmo is not condoning childhood alcohol consumption - a better and more nuanced take (which he alludes to elsewhere in the article) is that the conditions of modern life have prolonged adolescence for millennials (and generation z) - the traditional signifiers of adulthood are gone and the aesthetics of contemporary corporate app and internet design have adjusted to reflect this shift.

  4. Mar 2021
    1. Preliminary results from the first year are tantalizing for anyone interested in solutions to address rising inequality in the United States, especially as they manifest along racial and gender lines. Within the first year, the study’s participants obtained jobs at twice the rate of the control group. At the beginning of the study, 28 percent of the participants had full-time employment, and after the first year, that number rose to 40 percent.

      This is what happened when 125 participants were given $500/month over two years to see what would happen.

  5. Feb 2021
    1. brocade,

      A "brocade" is "a rich fabric woven with a raised pattern, typically with gold and silver thread."

      How rich does one have to be to wear literal gold?

  6. Dec 2020
    1. Recently he and his wife, Chelsea, a second grade teacher, had launched One Love Travel, organizing excursion packages and cruises as part of their long-term plan to build generational wealth.

      Think about the extra work needed to attain a start to generational wealth. How is this different for different people? What have you seen in or around your life that seems similar or which has a different pattern?

    1. wealth persist across racial groups.

      EXAMINE THE SYSTEMS WHICH HELP TO ENFORCE THIS RACIAL INCOME DIVIDE! Most relate. Fixing these systems could help to bridge the income gap between racial groups. Even laws so ingrained in us.

  7. Nov 2020
    1. Jeff Bezos has so much money he doesn’t know what to do with it all, so he figures he’d might as well spend it on spaceships. That’s what the Amazon.com Inc. AMZN, -1.04%   founder and chief executive told Mathias Döpfner, the CEO of Business Insider parent Axel Springer, in an interview published over the weekend.
  8. Sep 2020
    1. Longer term, the report says the gap must be addressed by expanding healthcare access for all Americans. In New York City, the center of the pandemic, Covid-19 is killing black and Latino people at twice the rate of white patients. One factor is the higher proportion of uninsured people in communities of color.

      This is why I doubt Snowden's claim that most plagues did not discriminate against the poor or rich. The poor will always have it worse as they are forced to congregate with others for income and live in unsanitary conditions, for example

    2. In the 12 weeks between 18 March and 11 June, the combined wealth of all US billionaires increased by more than $637bn to a total of $3.581tn, more than the entire wealth of the US’s 59 million Latinx population combined and equal to three-quarters of all Black wealth, according to an analysis by the Institute for Policy Studies (IPS).

      Rich get richer while poor get poorer. Why is this? Perhaps find an article explaining this

    3. Over the same period, 44 million Americans lost their jobs and filed for unemployment insurance. The numbers have declined from a one week peak of 6.6 million in April but are still historically high. More than 3 million people have filed for unemployment in the last two weeks alone. Latinx and African American people have been hit hardest by the layoffs.

      research unemployment statistics more, compare to financial hardships in pandemics throughout history

    4. The share of households of color with zero or “negative” wealth, meaning their debts exceed the value of their assets, is much higher than the share of white households. According to the report, 37% of black families and 33% of Latino families have zero or negative wealth, compared to just 15.5% of white families. Black Americans have a homeownership rate of just 44%, compared to a white homeownership rate over 70%.

      how are communities with zero or negative wealth harmed during pandemics? Do research on this

  9. Aug 2020
    1. Remote work distributes wealth into the whole system

      I think there is potential to do that, but then you hear cases like how some companies have reduced the pay for remote workers based on the cost of living of the cities that they live in.

  10. Jul 2020
  11. Jun 2020
  12. May 2020
  13. Apr 2020
  14. Jul 2018
    1. One of the simplest reasons so many clamor for formal spaces is because they are a signifier of wealth and prestige, a sign of having “made it.”
  15. Oct 2017
    1. Wealth and high office also supported claims to fine lineage.
    2. advancement
    3. The most lucrative and influential government positions involved tax collection.
    4. conspicuous
    5. Most people were employed in manufacturing or the retail trade, largely in the areas of food, clothing, and construction, in which the bulk of demand was concentrated

      Most people were employed in manufacturing or the retail trade, largely in the areas of food, clothing, and

      construction, in which the bulk of demand was concentrated

  16. Jan 2017
  17. Oct 2016
    1. Those are pearls that were his eyes

      This piece is repeated from the first book of the poem during the tarot reading. This repetition draws me back to that and makes me think that section has power through the entire poem. Not only that, but it takes on new meaning because this book has great emphasis on wealth and material items.

    2. The glitter of her jewels rose to meet it,

      So far, this suggests that the woman is wealthy and of high status. I imagine her jewels in a a rectangular box, all mixed together, so she can run her hands through them and decide which one to wear. It sounds like she has many, she doesn't even need candles.

  18. Feb 2016
    1. From Mexico, Spain expanded northward. Lured by the promises of gold and another Tenochtitlán, Spanish expeditions scoured North America for another wealthy Indian empire.

      It's always interesting to see that the pattern in history was always to chase riches and are fueled by promises of resource, whether it be consumable resources or precious metals.

  19. Dec 2015
  20. Jul 2015
    1. This document presents details on the wealth and income distributions in the United States, and explains how we use these two distributions as power indicators.

      Testing out this app....

  21. Dec 2014
    1. Creating a Workforce Housing Equity Fund: Tech companies taking advantage of tax breaks should pay into a Workforce Housing Equity Fund for building affordable housing as part of their Community Benefits Agreements.

      Now we're talking. Welcome the new wealth, tax the hell out of it, and re-invest that in equitable developments.

  22. Feb 2014
    1. The breakthrough patent that produces a Polaroid company is more the exception than the rule. The rule is the modestly successful novelist, the minor [*292] poet, and the university researcher -- all of whom may profit by licensing or selling their creations.

      Breakthrough patent of Polaroid (the exception) vs modestly successful novelist (the more common case)

    2. In the final analysis, intellectual property shares much of the origins and orientation of all forms of property. At the same time, however, it is a more neutral institution than other forms of property: its limited scope and duration tend to prevent the very accumulation of wealth that Burke championed.
  23. Oct 2013
    1. What a man wants to be is better than what a man wants to seem, for in aiming at that he is aiming more at reality. Hence men say that justice is of small value, since it is more desirable to seem just than to be just, whereas with health it is not so. That is better than other things which is more useful than they are for a number of different purposes; for example, that which promotes life, good life, pleasure, and noble conduct. For this reason wealth and health are commonly thought to be of the highest value, as possessing all these advantages.

      I think that we still seek health and wealth above all else.

  24. Sep 2013
    1. Wealth as a whole consists in using things rather than in owning them; it is really the activity -- that is, the use -- of property that constitutes wealth.

      Definition of wealth as an activity, we are only wealthy through spending--an interesting idea. Then I know a lot of wealthy people, don't mind their credit card debt

    1. GORGIAS: What is there greater than the word which persuades the judges in the courts, or the senators in the council, or the citizens in the assembly, or at any other political meeting?—if you have the power of uttering this word, you will have the physician your slave, and the trainer your slave, and the money-maker of whom you talk will be found to gather treasures, not for himself, but for you who are able to speak and to persuade the multitude.

      Rhetoric can give freedom and create slavery, give power and wealth.