As wage growth stalled for 90% of workers, the average incomes of the top one percent increased at a whopping 300% of the rate of economic growth.
Business
S&P 500 Posts Fastest 30% Decline Ever, Faster Than During Great Depression
The index fell 30% over 22 days, the shortest duration on record.
As Many as 12,000 Retail Stores Could Close in 2020
The record for most closures was set in 2019.
Transitioning to Completely Green Economy Would Pay For Itself in Seven Years, Create Jobs Study Finds
The study conducted by a Standford University professor study finds transitioning to 100% green economy would save $11 trillion a year, cost $73 trillion up-front. There would also be a net increase of 28.6 million more jobs.
US Manufacturing Sector Falls for 5th Consecutive Month
The index is at its lowest level since June 2009, during the Great Recession.
Corporate debt levels hit record highs, and that has experts worried
Corporations have almost $10 trillion in debt on their balance sheets, equivalent to 47% of the entire U.S. economy. Peaks in corporate debt levels have historically coincided with recessions.
If Bill Gates gave every person on Earth $10, he would still have $20 billion left over
The tech mogul’s net worth is estimated at over $96 billion. Gates was also the richest person in the world from 1995 until 2008 when he was surpassed by Amazon CEO Jeff Bezos.
Top antitrust enforcer warns Big Tech over “surveillance capitalism”
The government’s top antitrust official warned large technology companies they could be pursued for antitrust law violations.
Microsoft Japan tried a 4-day work week and it was a big success
Microsoft Japan this week released the findings of a pilot 4-day work week program and the results were surprising. The effects of the shortening of the work week were positive across the board.
Economic Left
All our lives are affected by the economy. But the majority of reporting has a bias favoring the perspective of the haves and have nots. That is why Economic Left seeks to provide another perspective.
Economic Left 