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The top .01 percent of earners made nearly five percent of the national income in 2012. That’s just 16,000 Americans that make over ten million dollars a year.

NEW YORK, NY – Today Washington D.C. Mayor Vincent Gray caved to the ultimatum issued by Walmart and vetoed a living wage bill that was passed by the D.C. City Council. The bill would have required retailers with corporate sales of $1 billion or more and operating in spaces of 75,000 square feet or

The standard rap against regulation is that government uses a meat cleaver to clean up problems in the private sector that are better tackled with more nuance. Yet regulation—or the threat of it—often serves to spur smart self-regulation that wouldn't otherwise occur. You want to see a scalpel at

Blythe Masters is the most recognizable woman on Wall Street—and arguably its most resilient. At 44, she heads the largest commodities trading operation at the largest bank in the U.S., JPMorgan Chase ( JPM). In the mid-1990s she developed and marketed credit derivatives, which rapidly became a new

Internships have long been a part of building a career trajectory and most students have resigned themselves to the fact that internships will be unpaid. Many college students spend summers interning at various places, hoping to gain some hands-on experience, a few recommendations and some sense of

After a marathon hearing that wrapped up in the wee hours of Wednesday morning, the City Council of Richmond, Calif., voted to allow the use of eminent domain to seize underwater mortgages, becoming the first city in the nation to take such a concrete step toward the novel and risky strategy for

Washington DC needs jobs. When D.C. Mayor Vincent Gray made this point at a press conference this week, he may not have realized he was making a strong case in favor of the Large Retailer Accountability Act.

There are a bunch of good, practical arguments for giving low-wage workers a pay hike -- like the fact that putting more money in the pockets of these workers would spur consumer demand and economic growth. But here's another strong point that you don't hear much about: Reducing wage inequality is

The labor market recovery remains fragile, especially for African-Americans.

The American middle class has been in trouble for decades, but this was not obvious until the recession of 2008 because consumer purchases held up. How was that possible? The simple answer is that financiers devised ways to loan money that severed the link between profits and middle-class wellbeing.