Posts filed under “Wages & Income”
Yesterday, we looked at the benefit to McDonald’s of having its workers subsidized by state and federal aid. Today, its Wal-Mart’s turn. Recall our discussion last month on the related subject of “How McDonald’s and Wal-Mart Became Welfare Queens.” We learned that employees of these two companies are often the largest recipients of aid in their states.
McDonald’s recently found itself in the spotlight courtesy of its “McResource” line — the company help line that helps its poverty-level, full time employees enroll in various welfare programs. A recording of that McResource line sparked outrage, driving this issue into public view.
More recently, Wal-Mart’s holiday public-relations headache began when a Canton, Ohio, store decided to hold a food drive for needy local families for the holidays. What made this a PR nightmare was that the needy families were full time Wal-Mart employees who were working in the store holding a food drive.
Thus, our questions over the arc of these columns about some of the largest retailers in America — Wal-Mart is the single largest private employer in the country; McDonald’s, the largest fast food chain – are simply this:
The delightful Catherine Mulbrandon, who spoke at the very first Big Picture Conference, shares these interesting ways of conceptualizing income distribution: click for ginormous graphics Incomes as a percentage of population Incomes above $50 Million (top 0.01%)
Last month, we discussed in this space McDonalds and Wal-Mart as America’s biggest welfare queens. As it turns out, both retail giants are the beneficiaries of a surprising amount of Federal aid: Their employee’s receive an inordinate amount of Medicaid, food stamps and other public assistance. This allows them to maintain very low wages, and…Read More
The Surprising Impact of High School Math on Job Market Outcomes Jon James Federal Reserve Bank of Cleveland 11.01.13 The economic returns to education are well documented. It is also well-known that college graduates with certain majors will earn more than others and find it easier to land a job. But surprisingly, the…Read More
Technology is advancing in leaps and bounds — and so is economic inequality, says writer Chrystia Freeland. In an impassioned talk, she charts the rise of a new class of plutocrats (those who are extremely powerful because they are extremely wealthy), and suggests that globalization and new technology are actually fueling, rather than closing, the global income gap. Freeland lays out three problems with plutocracy … and one glimmer of hope.
TEDTalks is a daily video podcast of the best talks and performances from the TED Conference, where the world’s leading thinkers and doers give the talk of their lives in 18 minutes (or less). Look for talks on Technology, Entertainment and Design — plus science, business, global issues, the arts and much more.
Hat tip Panskeptic