Tag Archives: socioeconomics

This Major Greek Bank Is Writing Off Debts Up To $21,600 For Its Poorest Clients

greece debt forgiveness

Since the beginning of the debt crisis in 2009, both the country and the people of Greece have struggled under the weight of large sums of debt. Now, one of the country’s biggest banks has announced plans to forgive or restructure the debts of its poorest clients to help ease some of the financial burden on them. In a statement, the Bank of Piraeus called the economic situation in Greece a “humanitarian crisis”, and announced that it would be writing off the debts of

U.S. Factory Workers Make 76 Times More Per Hour Than Workers In Indonesia

indonesia factory

Indonesia has enjoyed an extended period of economic growth for the past decade and a half, with GDP rising more than 800% between 1998 and 2013. The country’s industrial sector has been the main driver behind this growth. Despite being hit hard by the Asian Financial Crisis in 1998, manufacturing still brings in more foreign direct investment than any other sub-sector of the Indonesian economy. When you examine the extraordinarily low wages of Indonesian factory workers, you begin to understand why. Currently, the

Google Maps Is Now Giving You Access To Some Of Mount Everest (Video)

google everest

On Thursday (3/12), Google Maps announced that users will now be able to take self-guided tours through the Everest region. Although the Khumbu region in Nepal is mainly famous for Mt. Everest, the community that surrounds the mountain is rich in culture. According to Business Insider… “Google has teamed up with Ava Sherpa, a Nepalese mountaineer who has reached the summit of the world’s most famous mountain a record 21 times as well as nonprofit Story Cycle to bring the rest of the world

Malawi, A Country Where Half of All Girls End Up As Child Brides, Bans Child Marriage

malawi child marriage

Every day, in countries around the world, roughly 39,000 girls under the age of 18 are forced into child marriages. The problem is especially pronounced in the African nation of Malawi, where 50% of girls are forced to marry before their 18th birthday and 1 in 8 are forced to marry before age 15. But all that may be starting to change. Earlier this week, the government of Malawi announced a ban on child marriage, raising the minimum age for marriage to 18 years. “This

Obama’s Tax On the 1%: Redistributing Wealth Amidst Historic Levels of Inequality In America (Opinion Piece)

wealth inEQ

Last night (January 20), President Obama used his State of the Union speech to officially propose a new tax plan. Though the White House has yet to release all of the specifics, the plan would basically increase taxes on the wealthy in order to reduce the financial burden on America’s struggling middle class. By most accounts, the American economy has been making a healthy recovery since Obama took office in the wake of the 2008 financial crisis. Job growth has been

New Study: Top 1% of Earners Will Have More Wealth Than Bottom 99% By 2016

Image Credit:    https://www.nytexaminer.com/2011/11/robbed-blind-by-the-1-percent/

On Monday, January 19, Oxfam – a respected anti-poverty organization based in Britain – released a report that immediately grabbed the attention of major media outlets. The report’s most alarming claim was a prediction that by 2016, the accumulated wealth of the world’s richest one percent will exceed that of the other 99%. The report was the culmination of a five-year study on global wealth inequality. The share of wealth owned by the top 1% rose from 44% in 2009 to 48% in 2014, which is

President Obama Is Proposing A Plan to Make Community College Free for All Americans

obama college feat

In a video uploaded to the White House’s official Facebook page on Thursday (January 8), President Obama gave a sneak peak into his upcoming State of the Union speech from aboard Air Force One. The video focused on a bold new plan by the President to make two years of community college free to any American who is interested. “Put simply, what I’d like to do is to see the first two years of community college free for anybody who’s willing

Pope Selects 20 New Cardinals from Underdeveloped and Previously Unrepresented Countries Around the World

pope cardinals feat

Pope Francis has been a busy man recently. In just the last few months, the leader of the global Catholic Church has… played an important role in the recent improvement in U.S.-Cuban relations, called out his own Vatican Curia for being plagued by a “Power-Hungry” bureaucracy, used a Christmas speech to bring attention to those suffering around the world and to chastise those enjoying the holidays while ignoring the plight of the less fortunate,  and has been working on an edict urging Catholics to take a stand

The Rise of Suburban Poverty (Infographic)

suburban poverty feat

Poverty is often seen as an urban problem – something that happens much more often in the city than in the suburbs. So you might be surprised to find out that since the year 2000, suburban poverty has increased by a whopping 139% while urban poverty is only up 50%. Today, more people live in poverty in the suburbs than in urban areas. Check out the infographic below, courtesy of Best MSW Programs, to learn more (click to view full size):

Nicaraguan Farmers Turn to Tarantulas As A Cash Crop Amid Historic Drought

Nicaragua is Central America’s poorest country. Many Nicaraguans farm for a living, relying upon crops like coffee, corn, beans and sugarcane to make money. But this past summer, the northern part of Nicaragua was hit by one of the worst droughts in recent memory. The drought ravaged the country’s crops, which in turn led to rapid increases in the prices of staple foods. The situation got so bad at one point that the Nicaraguan government began to encourage its poorest citizens to capture, breed

« Older Entries