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The shutdown has already led to the biggest plunge in consumer confidence since the collapse of Lehman Brothers in 2008. And it has had ripple effects on many industries that rely on the federal government in one way or another. Import inspections, export financing and oil and gas permitting have come to a halt, in some cases.

Residential real estate, which has been one of the brightest points of the recovery, appears to be taking a hit.

The impasse over the debt ceiling has already raised the United States’ short-term borrowing costs, with investors demanding triple the interest payments they demanded just a few weeks ago,

The World Bank has estimated that a similar standoff in 2011 raised borrowing costs in poor countries by about 0.75 percentage point, and that those costs remained elevated for months.

“Regardless of whether we get a deal, there will be efforts to diversify away from the United States in terms of assets.”

continuing fiscal gridlock in Washington would take a toll on growth not just in the short term but in the long term as well. In the absence of a broad deal that addresses entitlement spending as well as the budget deficit, “you will have perpetual uncertainty,” he said. “And that will undermine the U.S. role in the world much more than a default.”

As Kiev attempted to further consolidate its control domestically, Moscow delivered yet another blow to the fledgling government on Tuesday as Gazprom, the Russian state gas giant, said it would raise the price of natural gas sold in Ukraine by more than 40 percent.

Alexei Miller, the head of Gazprom, said that Russia would revoke a discount on gas prices granted as part of a financial lifeline granted to Mr. Yanukovych in December, raising the price to $385.50 per thousand cubic meters from $268.50 per thousand cubic meters.

Redistributionist progressivism more aggressively raises taxes to shift money down the income scale, opposes trade treaties and meddles more in the marketplace. This tendency has won elections in Massachusetts (Elizabeth Warren) and New York City (Bill de Blasio) but not in many other places. Ed Balls, the No. 2 figure in the Labour Party in Britain, co-led the group from the Center for American Progress that wrote the most influential statement of modern progressivism, a report on “inclusive prosperity.” Balls could not even retain his own parliamentary seat in the last election.

there are a few things center-right parties have done successfully.

First, they have loudly (and sometimes offensively) championed national identity

Second, they have been basically sensible on fiscal policy

Third, these leaders did not overread their mandate. Cameron in Britain promised to cut the size of government, and he did, from 45.7 percent of G.D.P. in 2010 to 40.7 percent today,

But he made these cuts without going overboard. Public satisfaction with government services has gone up. And there have been some sensible efforts to boost those at the bottom. As The Economist pointed out, “The richest 10 percent have borne the greatest burden of extra taxes. Full-time workers earning the minimum wage pay a third as much income tax as in 2010. Overall, inequality has not widened — in contrast to America.”

Cameron’s win suggests the kind of candidate that would probably do well in a general election in this country. He is liberal on social policy, green on global warming and pragmatically conservative on economic policy. If he’s faulted for anything, it is for not being particularly ideological, though he has let his ministers try some pretty bold institutional reforms to modernize the welfare state.

Globally, voters are disillusioned with large public institutions. They seem to want to reassert local control and their own particular nationalism (Scottish or anything else). But they also seem to want a slightly smaller public sector, strong welfare state reform and more open and vibrant labor markets as a path to prosperity.

Lower taxes means less for government to spend on programs to help those near the bottom. Social Security typically provides a retiree with about half of his working income; European countries often replace two-thirds of earnings.

And income taxes for the highest-earning Americans have fallen sharply, contributing meaningfully to the income inequality problem. In 1995, the 400 taxpayers with the biggest incomes paid an average of 30 percent in taxes; by 2009, the tax rate of those Americans had dropped to 20 percent.

Conservatives may bemoan the size of our government; in reality, according to the Organization for Economic Cooperation and Development, total tax revenues in the United States this year will be smaller on a relative basis than those of any other member country.

Similarly, we spend less on early childhood education and care. And another big difference, of course, is the presence of national health insurance in most European countries.

All told, social spending in the United States is below the average of that of the wealthiest countries. And other governments help their less fortunate citizens to a greater extent than we do in ways that are not captured in the income statistics

The United States, which is the only developed country without a national paid parental leave policy, also has no mandated paid holidays or annual vacation; in Europe, workers are guaranteed at least 20 days and as many as 35 days of paid leave.

, on the programmatic side, among the many meritorious aspects of the much-maligned Affordable Care Act are its redistributionist elements: higher taxes on investment income and some health care businesses are being used to provide low-cost or free health care to a projected 26 million Americans near the bottom of the income scale.

more can and should be done — like raising the minimum wage nationwide and expanding the earned-income tax credit (a step supported by Republicans).

Critics from the right argue that doing more to level the income pyramid would hurt growth. In a recent paper, the International Monetary Fund dismissed that concern and suggested that a more equal distribution of income could instead raise the growth rate because of the added access to education, health care and other opportunities.

Instead of a dim light at the end of a tunnel, the official said, speaking on the condition of anonymity to discuss military matters, the alliance is seeking something closer to victory.

as Russian airstrikes against Syrian insurgents have picked up, so have insurgent attacks

Malala's courage has awoken Pakistan's silent majority who are no longer prepared to tolerate the threats and intimidations of the Pakistan Taliban,"

"We are going to educate 40 girls, and I invite all of you to support the Malala Fund," Malala said in a video that was played at the Women in the World summit in New York. "Let us turn the education of 40 girls into 40 million girls."

"She is the daughter of the whole world," her father told CNN. "The world owns her."

To be black in the Baltimore of my youth was to be naked before the elements of the world, before all the guns, fists, knives, crack, rape, and disease. The law did not protect us. And now, in your time, the law has become an excuse for stopping and frisking you, which is to say, for furthering the assault on your body

There is nothing uniquely evil in these destroyers or even in this moment. The destroyers are merely men enforcing the whims of our country, correctly interpreting its heritage and legacy. This legacy aspires to the shackling of black bodies

It is hard to face this. But all our phrasing—race relations, racial chasm, racial justice, racial profiling, white privilege, even white supremacy—serves to obscure that racism is a visceral experience, that it dislodges brains, blocks airways, rips muscle, extracts organs, cracks bones, breaks teeth

ou must never look away from this. You must always remember that the sociology, the history, the economics, the graphs, the charts, the regressions all land, with great violence, upon the body.

And should one live in such a body? What should be our aim beyond meager survival of constant, generational, ongoing battery and assault? I have asked this question all my life.

The question is unanswerable, which is not to say futile. The greatest reward of this constant interrogation, of confrontation with the brutality of my country, is that it has freed me from ghosts and myths.

I was afraid long before you, and in this I was unoriginal. When I was your age the only people I knew were black, and all of them were powerfully, adamantly, dangerously afraid. It was always right in front of me. The fear was there in the extravagant boys of my West Baltimore neighborhood

The fear lived on in their practiced bop, their slouching denim, their big T- shirts, the calculated angle of their baseball caps, a catalog of behaviors and garments enlisted to inspire the belief that these boys were in firm possession of everything they desired.

But a society that protects some people through a safety net of schools, government-backed home loans, and ancestral wealth but can only protect you with the club of criminal justice has either failed at enforcing its good intentions or has succeeded at something much darker.

still and all I knew that we were something, that we were a tribe—on one hand, invented, and on the other, no less real. The reality was out there on the Yard, on the first warm day of spring when it seemed that every sector, borough, affiliation, county, and corner of the broad diaspora had sent a delegate to the great world party

I remember being amazed that death could so easily rise up from the nothing of a boyish afternoon, billow up like fog. I knew that West Baltimore, where I lived; that the north side of Philadelphia, where my cousins lived; that the South Side of Chicago, where friends of my father lived, comprised a world apart. Somewhere out there beyond the firmament, past the asteroid belt, there were other worlds where children did not regularly fear for their bodies

I came to understand that my country was a galaxy, and this galaxy stretched from the pandemonium of West Baltimore to the happy hunting grounds of Mr. Belvedere. I obsessed over the distance between that other sector of space and my own. I knew that my portion of the American galaxy, where bodies were enslaved by a tenacious gravity, was black and that the other, liberated portion was not. I knew that some inscrutable energy preserved the breach. I felt, but did not yet understand, the relation between that other world and me. And I felt in this a cosmic injustice, a profound cruelty, which infused an abiding, irrepressible desire to unshackle my body and achieve the velocity of escape.

Before I could escape, I had to survive, and this could only mean a clash with the streets, by which I mean not just physical blocks, nor simply the people packed into them, but the array of lethal puzzles and strange perils which seem to rise up from the asphalt itself. The streets transform every ordinary day into a series of trick questions, and every incorrect answer risks a beat-down, a shooting, or a pregnancy. No one survives unscathed

When I was your age, fully one-third of my brain was concerned with who I was walking to school with, our precise number, the manner of our walk, the number of times I smiled, who or what I smiled at, who offered a pound and who did not—all of which is to say that I practiced the culture of the streets, a culture concerned chiefly with securing the body.

Why were only our heroes nonviolent? Back then all I could do was measure these freedom-lovers by what I knew. Which is to say, I measured them against children pulling out in the 7-Eleven parking lot, against parents wielding extension cords, and the threatening intonations of armed black gangs saying, “Yeah, nigger, what’s up now?” I judged them against the country I knew, which had acquired the land through murder and tamed it under slavery, against the country whose armies fanned out across the world to extend their dominion. The world, the real one, was civilization secured and ruled by savage means. How could the schools valorize men and women whose values society actively scorned? How could they send us out into the streets of Baltimore, knowing all that they were, and then speak of nonviolence?

the beauty of the black body was never celebrated in movies, in television, or in the textbooks I’d seen as a child. Everyone of any import, from Jesus to George Washington, was white. This was why your grandparents banned Tarzan and the Lone Ranger and toys with white faces from the house. They were rebelling against the history books that spoke of black people only as sentimental “firsts”—first black four-star general, first black congressman, first black mayor—always presented in the bemused manner of a category of Trivial Pursuit.

erious history was the West, and the West was white. This was all distilled for me in a quote I once read, from the novelist Saul Bellow. I can’t remember where I read it, or when—only that I was already at Howard. “Who is the Tolstoy of the Zulus?,” Bellow quipped

this view of things was connected to the fear that passed through the generations, to the sense of dispossession. We were black, beyond the visible spectrum, beyond civilization. Our history was inferior because we were inferior, which is to say our bodies were inferior. And our inferior bodies could not possibly be accorded the same respect as those that built the West. Would it not be better, then, if our bodies were civilized, improved, and put to some legitimate Christian use?

now I looked back on my need for a trophy case, on the desire to live by the standards of Saul Bellow, and I felt that this need was not an escape but fear again—fear that “they,” the alleged authors and heirs of the universe, were right. And this fear ran so deep that we accepted their standards of civilization and humanity.

“Tolstoy is the Tolstoy of the Zulus,” wrote Wiley. “Unless you find a profit in fencing off universal properties of mankind into exclusive tribal ownership.” And there it was. I had accepted Bellow’s premise. In fact, Bellow was no closer to Tolstoy than I was to Nzinga. And if I were closer it would be because I chose to be, not because of destiny written in DNA. My great error was not that I had accepted someone else’s dream but that I had accepted the fact of dreams, the need for escape, and the invention of racecraft.

The destroyers will rarely be held accountable. Mostly they will receive pensions.

I could see now that that world was more than a photonegative of that of the people who believe they are white. “White America” is a syndicate arrayed to protect its exclusive power to dominate and control our bodies. Sometimes this power is direct (lynching), and sometimes it is insidious (redlining). But however it appears, the power of domination and exclusion is central to the belief in being white, and without it, “white people” would cease to exist for want of reasons

here will surely always be people with straight hair and blue eyes, as there have been for all history. But some of these straight-haired people with blue eyes have been “black,” and this points to the great difference between their world and ours. We did not choose our fences. They were imposed on us by Virginia planters obsessed with enslaving as many Americans as possible. Now I saw that we had made something down here, in slavery, in Jim Crow, in ghettoes. At The Mecca I saw how we had taken their one-drop rule and flipped it. They made us into a race. We made ourselves into a people.

Think of all the embraces, all the private jokes, customs, greetings, names, dreams, all the shared knowledge and capacity of a black family injected into that vessel of flesh and bone. And think of how that vessel was taken, shattered on the concrete, and all its holy contents, all that had gone into each of them, was sent flowing back to the earth. It is terrible to truly see our particular beauty, Samori, because then you see the scope of the loss. But you must push even further. You must see that this loss is mandated by the history of your country, by the Dream of living white.

I don’t know if you remember how the film we saw at the Petersburg Battlefield ended as though the fall of the Confederacy were the onset of a tragedy, not jubilee. I doubt you remember the man on our tour dressed in the gray wool of the Confederacy, or how every visitor seemed most interested in flanking maneuvers, hardtack, smoothbore rifles, grapeshot, and ironclads, but virtually no one was interested in what all of this engineering, invention, and design had been marshaled to achieve. You were only 10 years old. But even then I knew that I must trouble you, and this meant taking you into rooms where people would insult your intelligence, where thieves would try to enlist you in your own robbery and disguise their burning and looting as Christian charity. But robbery is what this is, what it always was.

American reunion was built on a comfortable narrative that made enslavement into benevolence, white knights of body snatchers, and the mass slaughter of the war into a kind of sport in which one could conclude that both sides conducted their affairs with courage, honor, and élan. This lie of the Civil War is the lie of innocence, is the Dream.

I, like every kid I knew, loved The Dukes of Hazzard. But I would have done well to think more about why two outlaws, driving a car named the General Lee, must necessarily be portrayed as “just some good ole boys, never meanin’ no harm”—a mantra for the Dreamers if there ever was one. But what one “means” is neither important nor relevant. It is not necessary that you believe that the officer who choked Eric Garner set out that day to destroy a body. All you need to understand is that the officer carries with him the power of the American state and the weight of an American legacy, and they necessitate that of the bodies destroyed every year, some wild and disproportionate number of them will be black.

Here is what I would like for you to know: In America, it is traditional to destroy the black body—it is heritage. Enslavement was not merely the antiseptic borrowing of labor—it is not so easy to get a human being to commit their body against its own elemental interest. And so enslavement must be casual wrath and random manglings, the gashing of heads and brains blown out over the river as the body seeks to escape. It must be rape so regular as to be industrial. There is no uplifting way to say this.

It had to be blood. It had to be the thrashing of kitchen hands for the crime of churning butter at a leisurely clip. It had to be some woman “chear’d ... with thirty lashes a Saturday last and as many more a Tuesday again.” It could only be the employment of carriage whips, tongs, iron pokers, handsaws, stones, paperweights, or whatever might be handy to break the black body, the black family, the black community, the black nation. The bodies were pulverized into stock and marked with insurance. And the bodies were an aspiration, lucrative as Indian land, a veranda, a beautiful wife, or a summer home in the mountains. For the men who needed to believe themselves white, the bodies were the key to a social club, and the right to break the bodies was the mark of civilization.

“The two great divisions of society are not the rich and poor, but white and black,” said the great South Carolina senator John C. Calhoun. “And all the former, the poor as well as the rich, belong to the upper class, and are respected and treated as equals.” And there it is—the right to break the black body as the meaning of their sacred equality. And that right has always given them meaning, has always meant that there was someone down in the valley because a mountain is not a mountain if there is nothing below.

There is no them without you, and without the right to break you they must necessarily fall from the mountain, lose their divinity, and tumble out of the Dream. And then they would have to determine how to build their suburbs on something other than human bones, how to angle their jails toward something other than a human stockyard, how to erect a democracy independent of cannibalism. I would like to tell you that such a day approaches when the people who believe themselves to be white renounce this demon religion and begin to think of themselves as human. But I can see no real promise of such a day. We are captured, brother, surrounded by the majoritarian bandits of America. And this has happened here, in our only home, and the terrible truth is that we cannot will ourselves to an escape on our own.

I think now of the old rule that held that should a boy be set upon in someone else’s chancy hood, his friends must stand with him, and they must all take their beating together. I now know that within this edict lay the key to all living. None of us were promised to end the fight on our feet, fists raised to the sky. We could not control our enemies’ number, strength, or weaponry. Sometimes you just caught a bad one. But whether you fought or ran, you did it together, because that is the part that was in our control. What we must never do is willingly hand over our own bodies or the bodies of our friends. That was the wisdom: We knew we did not lay down the direction of the street, but despite that, we could—and must—fashion the way of our walk. And that is the deeper meaning of your name—that the struggle, in and of itself, has meaning.

I have raised you to respect every human being as singular, and you must extend that same respect into the past. Slavery is not an indefinable mass of flesh. It is a particular, specific enslaved woman, whose mind is as active as your own, whose range of feeling is as vast as your own; who prefers the way the light falls in one particular spot in the woods, who enjoys fishing where the water eddies in a nearby stream, who loves her mother in her own complicated way, thinks her sister talks too loud, has a favorite cousin, a favorite season, who excels at dressmaking and knows, inside herself, that she is as intelligent and capable as anyone. “Slavery” is this same woman born in a world that loudly proclaims its love of freedom and inscribes this love in its essential texts, a world in which these same professors hold this woman a slave, hold her mother a slave, her father a slave, her daughter a slave, and when this woman peers back into the generations all she sees is the enslaved. She can hope for more. She can imagine some future for her grandchildren. But when she dies, the world—which is really the only world she can ever know—ends. For this woman, enslavement is not a parable. It is damnation. It is the never-ending night. And the length of that night is most of our history. Never forget that we were enslaved in this country longer than we have been free. Never forget that for 250 years black people were born into chains—whole generations followed by more generations who knew nothing but chains.

You must resist the common urge toward the comforting narrative of divine law, toward fairy tales that imply some irrepressible justice. The enslaved were not bricks in your road, and their lives were not chapters in your redemptive history. They were people turned to fuel for the American machine. Enslavement was not destined to end, and it is wrong to claim our present circumstance—no matter how improved—as the redemption for the lives of people who never asked for the posthumous, untouchable glory of dying for their children. Our triumphs can never redeem this. Perhaps our triumphs are not even the point. Perhaps struggle is all we have

I am not a cynic. I love you, and I love the world, and I love it more with every new inch I discover. But you are a black boy, and you must be responsible for your body in a way that other boys cannot know. Indeed, you must be responsible for the worst actions of other black bodies, which, somehow, will always be assigned to you. And you must be responsible for the bodies of the powerful—the policeman who cracks you with a nightstick will quickly find his excuse in your furtive movements. You have to make your peace with the chaos, but you cannot lie.

“I could have you arrested,” he said. Which is to say: “One of your son’s earliest memories will be watching the men who sodomized Abner Louima and choked Anthony Baez cuff, club, tase, and break you.” I had forgotten the rules, an error as dangerous on the Upper West Side of Manhattan as on the West Side of Baltimore. One must be without error out here. Walk in single file. Work quietly. Pack an extra No. 2 pencil. Make no mistakes.

the price of error is higher for you than it is for your countrymen, and so that America might justify itself, the story of a black body’s destruction must always begin with his or her error, real or imagined—with Eric Garner’s anger, with Trayvon Martin’s mythical words (“You are gonna die tonight”), with Sean Bell’s mistake of running with the wrong crowd, with me standing too close to the small-eyed boy pulling out.

You are called to struggle, not because it assures you victory but because it assures you an honorable and sane life

I am sorry that I cannot save you—but not that sorry. Part of me thinks that your very vulnerability brings you closer to the meaning of life, just as for others, the quest to believe oneself white divides them from it. The fact is that despite their dreams, their lives are also not inviolable. When their own vulnerability becomes real—when the police decide that tactics intended for the ghetto should enjoy wider usage, when their armed society shoots down their children, when nature sends hurricanes against their cities—they are shocked by the rages of logic and the natural world in a way that those of us who were born and bred to understand cause and effect can never be.

I would not have you live like them. You have been cast into a race in which the wind is always at your face and the hounds are always at your heels. And to varying degrees this is true of all life. The difference is that you do not have the privilege of living in ignorance of this essential fact.

I never wanted you to be twice as good as them, so much as I have always wanted you to attack every day of your brief bright life determined to struggle. The people who must believe they are white can never be your measuring stick. I would not have you descend into your own dream. I would have you be a conscious citizen of this terrible and beautiful world.

Stiglitz has made the case that the rise in inequality in the US, far from being the natural outcome of market forces, has been profoundly shaped by “our policies and our politics,” with disastrous effects on society and the economy as a whole. In a recent report for the Roosevelt Institute called Rewriting the Rules, Stiglitz has laid out a detailed list of reforms that he argues will make it possible to create “an economy that works for everyone.”

his entire career in academia has been devoted to showing how markets cannot always be counted on to produce ideal results. In a series of enormously important papers, for which he would eventually win the Nobel Prize, Stiglitz showed how imperfections and asymmetries of information regularly lead markets to results that do not maximize welfare.

He also argued that this meant, at least in theory, that well-placed government interventions could help correct these market failures

in books like Globalization and Its Discontents (2002) he offered up a stinging critique of the way the US has tried to manage globalization, a critique that made him a cult hero in much of the developing world

Stiglitz has been one of the fiercest critics of the way the Eurozone has handled the Greek debt crisis, arguing that the so-called troika’s ideological commitment to austerity and its opposition to serious debt relief have deepened Greece’s economic woes and raised the prospect that that country could face “depression without end.”

For Stiglitz, the fight over Greece’s future isn’t just about the right policy. It’s also about “ideology and power.

there’s a good case to be made that the sheer amount of rent-seeking in the US economy has expanded over the years. The number of patents is vastly greater than it once was. Copyright terms have gotten longer. Occupational licensing rules (which protect professionals from competition) are far more common. Tepid antitrust enforcement has led to reduced competition in many industries

The Great Divide is somewhat fragmented and repetitive, but it has a clear thesis, namely that inequality in the US is not an unfortunate by-product of a well-functioning economy. Instead, the enormous riches at the top of the income ladder are largely the result of the ability of the one percent to manipulate markets and the political process to their own benefit.

Inequality obviously has no single definition. As Stiglitz writes:There are so many different parts to America’s inequality: the extremes of income and wealth at the top, the hollowing out of the middle, the increase of poverty at the bottom. Each has its own causes, and needs its own remedies.

his preoccupation here is primarily with why the rich today are so much richer than they used to be.

the main reason people at the top are so much richer these days than they once were (and so much richer than everyone else) is not that they own so much more capital: it’s that they get paid much more for their work than they once did, while everyone else gets paid about the same, or less

while incomes at the top have risen in countries around the world, nowhere have they risen faster than in the US.

One oft-heard justification of this phenomenon is that the rich get paid so much more because they are creating so much more value than they once did

as companies have gotten bigger, the potential value that CEOs can add has increased as well, driving their pay higher.

Stiglitz will have none of this. He sees the boom in the incomes of the one percent as largely the result of what economists call “rent-seeking.”

from the perspective of the economy as a whole, rent-seeking is a waste of time and energy. As Stiglitz puts it, the economy suffers when “more efforts go into ‘rent seeking’—getting a larger slice of the country’s economic pie—than into enlarging the size of the pie.”

The work of Piketty and his colleague Emmanuel Saez has been instrumental in documenting the rise of income inequality, not just in the US but around the world. Major economic institutions, like the IMF and the OECD, have published studies arguing that inequality, far from enhancing economic growth, actually damages it. And it’s now easy to find discussions of the subject in academic journals.

. After all, while pretax inequality is a problem in its own right, what’s most destructive is soaring posttax inequality. And it’s posttax inequality that most distinguishes the US from other developed countries

All this rent-seeking, Stiglitz argues, leaves certain industries, like finance and pharmaceuticals, and certain companies within those industries, with an outsized share of the rewards

within those companies, the rewards tend to be concentrated as well, thanks to what Stiglitz calls “abuses of corporate governance that lead CEOs to take a disproportionate share of corporate profits” (another form of rent-seeking)

This isn’t just bad in some abstract sense, Stiglitz suggests. It also hurts society and the economy

It alienates people from the system. And it makes the rich, who are obviously politically influential, less likely to support government investment in public goods (like education and infrastructure) because those goods have little impact on their lives.

More interestingly (and more contentiously), Stiglitz argues that inequality does serious damage to economic growth: the more unequal a country becomes, the slower it’s likely to grow. He argues that inequality hurts demand, because rich people consume less of their incomes. It leads to excessive debt, because people feel the need to borrow to make up for their stagnant incomes and keep up with the Joneses. And it promotes financial instability, as central banks try to make up for stagnant incomes by inflating bubbles, which eventually burst

exactly why inequality is bad for growth turns out to be hard to pin down—different studies often point to different culprits. And when you look at cross-country comparisons, it turns out to be difficult to prove that there’s a direct connection between inequality and the particular negative factors that Stiglitz cites

This doesn’t mean that, as conservative economists once insisted, inequality is good for economic growth. In fact, it’s clear that US-style inequality does not help economies grow faster, and that moving toward more equality will not do any damage

Similarly, Stiglitz’s relentless focus on rent-seeking as an explanation of just why the rich have gotten so much richer makes a messy, complicated problem simpler than it is

When we talk about the one percent, we’re talking about two groups of people above all: corporate executives and what are called “financial professionals” (these include people who work for banks and the like, but also money managers, financial advisers, and so on)

The emblematic figures here are corporate CEOs, whose pay rose 876 percent between 1978 and 2012, and hedge fund managers, some of whom now routinely earn billions of dollars a year

Shareholders, meanwhile, had fewer rights and were less active. Since then, we’ve seen a host of reforms that have given shareholders more power and made boards more diverse and independent. If CEO compensation were primarily the result of bad corporate governance, these changes should have had at least some effect. They haven’t. In fact, CEO pay has continued to rise at a brisk rate

So what’s really going on? Something much simpler: asset managers are just managing much more money than they used to, because there’s much more capital in the markets than there once was

that means that an asset manager today can get paid far better than an asset manager was twenty years ago, even without doing a better job.

there’s no convincing evidence that CEOs are any better, in relative terms, than they once were, and plenty of evidence that they are paid more than they need to be, in view of their performance. Similarly, asset managers haven’t gotten better at beating the market.

More important, probably, has been the rise of ideological assumptions about the indispensability of CEOs, and changes in social norms that made it seem like executives should take whatever they could get.

It actually has important consequences for thinking about how we can best deal with inequality. Strategies for reducing inequality can be generally put into two categories: those that try to improve the pretax distribution of income (this is sometimes called, clunkily, predistribution) and those that use taxes and transfers to change the post-tax distribution of income

he has high hopes that better rules, designed to curb rent-seeking, will have a meaningful impact on the pretax distribution of income. Among other things, he wants much tighter regulation of the financial sector

t it would be surprising if these rules did all that much to shrink the income of much of the one percent, precisely because improvements in corporate governance and asset managers’ transparency are likely to have a limited effect on CEO salaries and money managers’ compensation.

Most importantly, the financial industry is now a much bigger part of the US economy than it was in the 1970s, and for Stiglitz, finance profits are, in large part, the result of what he calls “predatory rent-seeking activities,” including the exploitation of uninformed borrowers and investors, the gaming of regulatory schemes, and the taking of risks for which financial institutions don’t bear the full cost (because the government will bail them out if things go wrong).

The redistributive policies Stiglitz advocates look pretty much like what you’d expect. On the tax front, he wants to raise taxes on the highest earners and on capital gains, institute a carbon tax and a financial transactions tax, and cut corporate subsidies

It’s also about investing. As he puts it, “If we spent more on education, health, and infrastructure, we would strengthen our economy, now and in the future.” So he wants more investment in schools, infrastructure, and basic research.

The core insight of Stiglitz’s research has been that, left on their own, markets are not perfect, and that smart policy can nudge them in better directions.

Of course, the political challenge in doing any of this (let alone all of it) is immense, in part because inequality makes it harder to fix inequality. And even for progressives, the very familiarity of the tax-and-transfer agenda may make it seem less appealing.

the policies that Stiglitz is calling for are, in their essence, not much different from the policies that shaped the US in the postwar era: high marginal tax rates on the rich and meaningful investment in public infrastructure, education, and technology. Yet there’s a reason people have never stopped pushing for those policies: they worked

with about 200 schools nationwide in three peer groups: those in large cities, those with high percentages of low-income and mi

nority students, and those in cities that have a high concentration of colleges.

The college said in April it would offer free tuition to hundreds of recent Philadelphia high school graduates from low-income families

For the most recent year, tuition and fees totaled $5,550. Generals said the school did not raise tuition last year and was not planning to raise it this year.

The college graduated 17.5 percent of its students within six years, slightly below the average of two similar groups of colleges.

it served 2.9 percent of city residents 18 or older; peer schools in competitive markets served 6.1 percent.

The report called the college's workforce training arm, Corporate Solutions, "faltering." It has attracted fewer clients than in the past, and revenue has fallen steeply. Private employers told Pew that the college lacks "appropriate or convenient programs."

“Happiness as a byproduct of living your life is a great thing,” Barry Schwartz, a professor of social theory at Swarthmore College, told me. “But happiness as a goal is a recipe for disaster.”

Could it be that by protecting our kids from unhappiness as children, we’re depriving them of happiness as adults?

Bohn believes many parents will do anything to avoid having their kids experience even mild discomfort, anxiety, or disappointment—“anything less than pleasant,” as he puts it—with the result that when, as adults, they experience the normal frustrations of life, they think something must be terribly wrong.

Dan Kindlon, a child psychologist and lecturer at Harvard, warns against what he calls our “discomfort with discomfort” in his book Too Much of a Good Thing: Raising Children of Character in an Indulgent Age. If kids can’t experience painful feelings, Kindlon told me when I called him not long ago, they won’t develop “psychological immunity.”

Civilization is about adapting to less-than-perfect situations, yet parents often have this instantaneous reaction to unpleasantness, which is ‘I can fix this.’”

Yes, we devote inordinate amounts of time, energy, and resources to our children, but for whose benefit?

“I can’t tell you how often I have to say to parents that they’re putting too much emphasis on their kids’ feelings because of their own issues.

Chua’s book resonated so powerfully because she isn’t so different from her critics. She may have been obsessed with her kids’ success at the expense of their happiness—but many of today’s parents who are obsessed with their kids’ happiness share Chua’s drive, just wrapped in a prettier package. Ours is a have-your-cake-and-eat-it-too approach, a desire for high achievement without the sacrifice and struggle that this kind of achievement often requires.

The movie, Professor Zelizer said, does a powerful job of depicting the courage of the activists, and the tactical genius of Dr. King. And it gets one thing absolutely right: the crucial role of the movement in pushing Johnson to act more quickly than he thought was possible.“The real story wasn’t about a president who didn’t want voting rights,” he said. “It was about a president who couldn’t get them through. And it was the civil rights movement that made that possible.”

Others, though, insist that the sources of the violence are alienation and resentment, not theology. They argue that the authoritarian rulers of Arab states — who have tried for decades to control Muslim teaching and the application of Islamic law — have set off a violent backlash expressed in religious ideas and language.

M. Steven Fish, a political scientist at the University of California, Berkeley, sought to quantify the correlation between Islam and violence. In his book, “Are Muslims Distinctive?,” he found that murder rates were substantially lower in Muslim-majority countries and instances of political violence were no more frequent.

Only a very small number of Muslims pin the blame directly on the religion itself.

Khaled Fahmy, an Egyptian historian, was teaching at New York University on Sept. 11, 2001, after which American sales of the Quran spiked because readers sought religious explanations for the attack on New York.“We try to explain that they are asking the wrong question,” he said. Religion, he argued, was “just a veneer” for anger at the dysfunctional Arab states left behind by colonial powers and the “Orientalist” condescension many Arabs still feel from the West.“The Arab states have not delivered what they are supposed to deliver and it can only lead to a deep sense of resentment and frustration, or to revolution,” he said. “It is the nonviolence that needs to be explained, not the violence.”

Over a 15-year period ending in 2008, Islamist militants were responsible for 60 percent of high-casualty terrorist bombings, his study found, but almost all were concentrated in just a handful of Muslim-majority countries in the context of larger conflicts that were occurring — places like Afghanistan after the American invasion or Algeria after the military takeover.

“Is Islam violent? I would say absolutely not,” Mr. Fish said in an interview. “There is very little empirical evidence that Islam is violent.”

The basic level is unquestionably one of security and

taking the necessary steps to counter the violence that no civilized society can tolerate

And at the highest level of all, it raises the question of whether we are able to protect and expand political and social freedom for everybody, with all our rich human diversity

we must set out and pursue a positive vision of the way in which religions and ideologies should relate constructively in the public square

America’s crying need is not for more scholarly research, for longer or louder talk show debates, or for another presidential commission

Thus, a right for one citizen is a right for another and a responsibility for both

Free societies not only need the structures of freedom, such as the Constitution and the law, but the spirit of freedom,

The alternative to these extremes is the vision of a civil public square

The truth is that the United States is squandering its proud heritage of both freedom and freedom of conscience

E Pluribus Unum was once not only America’s motto, but its greatest accomplishment. It could be so again

That is the heart of the blood-red challenge raised by the Islamist slaughters in Paris. We must live together or die.

All of the examples chosen that represent racial slights or overt racism only raise the specter of how these frat members are raised, what they truly believe, and how organizations that permit such behavior and encourage the newbies to go along with it perpetuate racism in all its forms. As such, the question "what should we do about fraternities" isn't any different from the same question with the terms "KKK", "Neo-Nazis", or "anti semetics" substituted in for "fraternities".

The fraternities are a reflection of college life and life in America.There is more polarization on campuses, with students not mixing, exchanging ideas and engaging one another. Instead, they are congregating with other students just like them, and this is occurring across the race and color spectrum. Several college professors blame the Greek system for seeming to foster this division, but I believe it is more of a reflection of what is going on in America, as society is similarly divided and not engaging with anyone who is not alike.Is it risk aversion, need for affirmation, security? Unknown, but while I'm not a fan of the Greek system/life, I do not believe it is the crux of the problem.

I will take advantage of the vacuum to explain why my fraternity brought out the worst in its members. The fundamental problem is that most college-age men lack the judgment and life-experience to live together in a self-governing group. Inevitably, the most aggressive, extroverted risk takers will come to dominate the organization. Their best teenage thinking is what gives birth to the worst ideas and greatest excesses of the insular frat life. What else contributes to fraternities' bad reputations? The college administrations, which long ago renounced their in-loco-parentis responsibilities. There was a time when fraternities had seasoned adult house fathers who could keep the guys in line. No more.

"Powerful alumni." That's all that really needs to be said. As we've reduced public funding for higher education, universities are more and more dependent on the deep pockets of alumni who are going to place a phone call to any campus administrator who tries to seriously address all the "fun." Drinking, sexual assault, racism. Fraternities are good at breeding loyalty, loyalty to their chapters, loyalty to their campuses. Few universities can afford to toy with that. Note this Atlantic Monthly article, "The Dark Power of Fraternities." http://www.theatlantic.com/features/archive/2014/02/the-dark-power-of-fr...

As a student, it seemed to me that the purpose of fraternities was to reaffirm that education didn't really matter -- a big poke in the eye at anyone who believed that they could advance by excelling academically. What really mattered was how much you could drink and debase yourself in tribute to the bastions of current privilege and wealth

for the quality of life in the house, it certainly was not apparent to me. When I came to them with proof positive that a "brother" had stolen a check payable to me, forged my signature and cashed it, they did nothing to sanction him.The dominant group in my fraternity had no apparent thirst for knowledge, just an unquenchable thirst for daily alcohol-fueled parties that lasted into the wee hours with loud music and drugs. We outsiders subsidized their party life and all we got in return was the privilege of living in their zoo.

Why do some Greek-letter organizations seem to bring out the worst in people? Historically white fraternal groups can be key mechanisms in the intergenerational transmission of white wealth, power and status. The stakes for belonging are high, and the culture must legitimate its own existence, forcing out those who fail to conform.

The technique holds the power to repair or enhance any human gene. “It raises the most fundamental of issues about how we are going to view our humanity in the future and whether we are going to take the dramatic step of modifying our own germline and in a sense take control of our genetic destiny, which raises enormous peril for humanity,”

The paper’s authors, however, are concerned about countries that have less regulation in science. They urge that “scientists should avoid even attempting, in lax jurisdictions, germline genome modification for clinical application in humans” until the full implications “are discussed among scientific and governmental organizations.”

Though such a moratorium would not be legally enforceable and might seem unlikely to exert global influence, there is a precedent. In 1975, scientists worldwide were asked to refrain from using a method for manipulating genes, the recombinant DNA technique, until rules had been established.

Though highly efficient, the technique occasionally cuts the genome at unintended sites. The issue of how much mistargeting could be tolerated in a clinical setting is one that Dr. Doudna’s group wants to see thoroughly explored before any human genome is edited.

“We worry about people making changes without the knowledge of what those changes mean in terms of the overall genome,” Dr. Baltimore said. “I personally think we are just not smart enough — and won’t be for a very long time — to feel comfortable about the consequences of changing heredity, even in a single individual.”

Many ethicists have accepted the idea of gene therapy, changes that die with the patient, but draw a clear line at altering the germline, since these will extend to future generations. The British Parliament in February approved the transfer of mitochondria, small DNA-containing organelles, to human eggs whose own mitochondria are defective. But that technique is less far-reaching because no genes are edited.

There are two broad schools of thought on modifying the human germline, said R. Alta Charo, a bioethicist at the University of Wisconsin and a member of the Doudna group. One is pragmatic and seeks to balance benefit and risk. The other “sets up inherent limits on how much humankind should alter nature,” she said. Some Christian doctrines oppose the idea of playing God, whereas in Judaism and Islam there is the notion “that humankind is supposed to improve the world.” She described herself as more of a pragmatist, saying, “I would try to regulate such things rather than shut a new technology down at its beginning.

The Doudna group calls for public discussion, but is also working to develop some more formal process, such as an international meeting convened by the National Academy of Sciences, to establish guidelines for human use of the genome-editing technique.“We need some principled agreement that we want to enhance humans in this way or we don’t,” Dr. Jaenisch said. “You have to have this discussion because people are gearing up to do this.”

The basic question we face is, I suggest, what makes people do what they do?

I will offer a few suggestions in the following six categories. There may well be others, but these are mine. Top of the list, I think, is ignorance. Closely following ignorance is the issue of memory. Next, I suggest is suspicion. Somewhere down the line is escapism. "Why didn't we..." and "why do you remind us...." Then, there is the development process and its downside, corruption. Hard to "objectify" and impossible to "quantify," is my fifth category, the sense of identify. Finally, I reflect on the sense of dignity and its and itsviolation in shameandthe terrible burden of embarrassment.

Every survey on what Americans know about our world shows, objectively speaking, what can only be described as ignorance.  Few Americans know even where any foreign place is, who lives there, what language they speak, or what shapes their daily lives.

Casual conversations with people all over America indicate that few care. Such information is just not a significant part of their lives.

If one could have taken a poll in England at almost any time in its history one would have found the same results.  I suggest that what is different, operationally, is that in England the ordinary citizen did not play a role in determining policy.  That was the job of the small aristocracy. What the people knew or did not know was unimportant.

above all in America, which is the operational head of the world community, what "the people" know or don't know but believe is no longer irrelevant. It sometimes is crucial. That is because elections are more common, even if not always free, and because people almost everywhere, but particularly in the West, have been to some extent politicized. Thus, Ignorance is not new but today it is often determinant.

ignorance is not just unidirectional; it occurs in a context. What "we" think we know about others fits into what other people think "they" know both about themselves and about us. People everywhere tend to know quite a bit about their own circumstances and the actions that shaped those circumstances. That is, much more than foreigners know about them. This necessarily creates a lopsided worldview

These forms of mutual incomprehension or mutual misreadings often cause wars. Consider three examples:

Dirty tricks like our attempt to murder Nasser were and probably still are not uncommon. The Senate Committee headed by Senator Frank Church provided a chilling record, including cooperation with the Mafia, to assassinate Fidel Castro. Assassinations and attempted assassinations by the Russians, the British, the Israelis and others have been less subjected to sustained inquiry than Church provided, but their involvement in many deplorable incidents is not in doubt.

Britain developed Iran

The ancient Hindu who told the parable of the elephant was right. Those who grab the tail cannot understand those who handle the trunk. Understanding of the whole is always and everywhere necessary for intelligent action.

for how long does memory prevent people from doing the same things again?

long-term memory, memory of big happenings like wars, may be crucial but, it seems to me, last only about a decade.  Who today remembers much about American participation in the wars in Greece, Korea or even Vietnam.

Even when we get the sequences right, we usually stop short of determining the causes, that is, the connections between events.

my hunch is that as rapidly as we can, we put aside what we don't want to remember.

we have been able virtually to remove costly and painful events from the immediacy of daily life

Those who dwell on the costly and painful aspects of rising militarism are at best a nuisance who soon wear out their welcome. We find it so much easier to mesh our thoughts and attitudes with those of the people with whom we eat, work, sleep and play.  Better not to pay attention to those who challenge "conventional wisdom" or buck the tide.

Conventional wisdom and going with the mainstream are, arguably, necessary to make society function.

Sometimes, it seems to me that our questions get in the way of our answers and that our analytical tools themselves distort what our eyes are seeing.  We get so sophisticated that we may, to use the old saw, fail to see the forest for the trees.

These activities have created throughout the world a pervasive sense of illegality and immorality. And it cannot be restricted just to foreign affairs. It spills over into domestic affairs not only, as it commonly does, into societies with fragile legal systems but also into ours.

What is important, I suggest about all these -- and many other suspicious events which have never been fully illuminated -- is two fold: on the one hand, a climate of suspicion has been created that makes the achievement of security and peace far more difficult throughout the world and, on the other hand, trust in government, including the government of the United States, has been compromised.

Johnson charged Nixon with treason, but did not hold him accountable. Johnson's successors in the presidency have, similarly, not applied to political leaders the sort of legal standard to which we, as citizens, are held. Nor have they shared with the citizenry what they know has been done in our name. This is a fundamental attack on our system of government. Those who have "blown the whistle" on such activities, not the perpetrators, have been stigmatized or punished.

This adds up, I suggest, to a political form of corruption even worse than the financial corruption that so corrodes the nation "salvation" activities we have mounted in such countries as Iraq and Afghanistan.

What about escapism?  I suggest that escapism is the child of suspicion. I would wager that if one could stop a hundred or so people on the streets of any village, town or city almost everywhere, he would find that only a handful of those he badgered would want to talk about issues some of us keep warning them that could ruin their lives. Most Americans and probably most people everywhere, simply do not want to think about them.

I have found that when such issues as war, environmental degradation, over population, hunger, pandemics, nuclear accidents or even financial collapse are raised, conversation dwindles. As the familiar expression has it, "eyes glaze over," and as quickly as politely possible, Americans flee from the person who raised the issues as though he had made a bad smell

For most people they are better kept at least out of sight if not totally out of mind. Real life, enjoyable life, life that gives amusement or pleasure right now is at hand. It is available even for the very poor on television.  Sports, even in countries where hunger is widespread, jobs few, life constricted and governments oppressive, these annoyances recede before the immediate excitement of football.

we think we are the doctors but really we are the disease. I don't want to believe that, but there is ample proof that much of what we have done with the best of intentions has made many people suffer

we all sought in the late 1950s and early 1960 to "objectify" and "quantify" the study of international affairs.

Insofar as it dealt with the struggles in the Third World, our analysis suggested to some of us that what we were seeking came down to achieving a growth rate of about 3.5 percent

It seems to me that to the degree possible, everything must be done to avoid attacks on dignity and humiliation.

So, what is a sense of identity, how is it manifested and how do outsiders relate to it?

when the first cities were formed about 3,000 years ago, the inhabitants became too numerous to identify themselves by kinship. So, they elaborated their sense of belonging into custom, religion, dress, diet and language. Gradually, and over centuries, they often elaborated their definition of their identity

whatever form "belonging" takes, it is the "glue" that hold societies together and make it possible for the members to live together.

What the residents needed was to stay put, to improve their housing, of course, but more important to be assisted in taking charge of their lives in their own pattern and at their own speed.

For me, this experience threw into relief the American efforts to remake other societies as the neoconservatives urge. Their proposals urge not only to "regime change" but also to "culture change" -- indeed to disassemble -- whole societies. As played out, particularly during the George W. Bush administration, they have caused or exacerbated unrest and war. To the degree we insist on overturning what the people believe to be normal and right -- in effect of undermining the sense of identity, belonging and self-respect even to improve their physical well-being -- we can expect unrest and war to continue

For what we have done, even with statistically proven improvements and with the best of intentions, both we and they have paid and will pay more. The Third and mainly Islamic world is now in revolt.

Last, and closely related to the sense of belonging and identity, I suggest is the deep need of human beings to avoid attacks on their dignity

Close analysis of almost any confrontation shows that it sets the parameters within which rulers have to act or are likely to be overthrown. We neglect it at our peril.

What had happened was that, unwittingly, the governments, at our urging and with our help, had undermined the fundamental "possession" of their peoples, their sense of identity.

Avoiding humiliation is the essence of diplomacy. But when one has overwhelming power, the temptation is always present to push one's advantage, to put the other person in the corner, to make him "blink," to humble him, even to destroy him.