Setting A Maximum Wage For CEOs Would Be Good For Everyone
A limit would help to slow the growth of economic inequality and prevent reckless risk-taking by CEOs who otherwise might feel motivated to try to drive up the stock price of their company and therefore their bonus.
The Curious Cultural Rise Of The Town That Gave Us Walmart
In 2011, Bentonville unveiled the Crystal Bridges Museum of American Art. It was the biggest art museum opening in America in almost 40 years, and it launched Bentonville — a rural community known only for Walmart — into the cultural spotlight overnight.
How Offshore Oil Rigs Work
Offshore oil rigs are inherently a higher-cost, higher-risk method of oil extraction, but the oceans are, of course, home to a huge proportion of the world’s oil reserves so, if there are no more low-cost oilfields on land, that’s where the companies go.
The Wealth Detective Who Finds The Hidden Money Of The Super Rich
Thirty-two-year-old French economist Gabriel Zucman scours spreadsheets to find secret offshore accounts. The minimum amount Zucman calculated the wealthy stash in offshore accounts: $7.6 trillion.
Nothing Does It Like 7up: The Rise Of The Lemon-lime Soda
The soft drink we now know as 7UP was invented and made its way onto the soft drink market in 1929. Created by Charles Leiper Grigg, the drink was called Bib-label Lithiated Lemon-lime Soda before Grigg eventually changed the name to 7UP. This was probably because the drink had seven ingredients.
How The Resale Revolution Is Reshaping Fashion
We’re buying more clothes than ever, but it’s not all fast fashion. More than half of 25- to 34-year-olds buy secondhand or vintage clothes, and resale apps such as Depop, Stock X and Vestiaire Collective are tapping into the millennial and generation Z market.
What It Really Costs To Own Or Charter A Private Jet
One of the ultimate symbols of luxury and affluence is private jet travel. An experienced bizjet pilot breaks down the industry, the costs, who can really justify such an expensive luxury, and why.
In South-East Asia, Grab And Gojek Bring Banking To The Masses
Both started with ride-hailing and expanded into other logistics businesses, such as deliveries and food-ordering. The story of two South-East Asian “deca-unicorns”—fintechs valued above $10bn—is usually told in terms of their rivalry.
The Preposterous Success Story Of America’s Pillow King
The tale of Mike Lindell begins in a crack house. The 47-year-old divorced father of four had run out of crack, again. He realized that abusing crack and running a business weren’t compatible in the long term and vowed to fulfill his dream of making “the world’s best pillow.”
America Is About To Witness The Biggest Labor Movement It’s Seen In Decades
The past four decades have been perhaps labor’s weakest since the Industrial Age. For a half-century, those working for hourly wages have won almost no real gains. The real average hourly wage in 2018 dollars adjusted for inflation was $22.65 in 2018, compared with $20.27 in 1964 — just an 11.7% gain.
Can A Corporation “Own” A Color?
A handful of companies like Coca-Cola, 3M and Cadbury, have pushed the boundaries of intellectual property law by laying claim to individual colors. But is it really possible to “own” a color?
Can Mission-Driven Food Companies Scale Up Without Selling Out?
When just 10 companies—including Nestlé, Unilever, and General Mills—control the vast majority of food brands, it raises serious questions about the ability of mission-driven companies to hold on to their original intentions.
How ‘Landscape Urbanism’ Is Making Gentrification Look Like Fun
The High Line and its imitators are examples of “landscape urbanism,” a growing design movement that places green space in collision with old infrastructure. Rehabilitation projects follow a familiar playbook, aestheticizing the labor of the past even as they support a gentrified future.
Why China And The U.S. Are Vying For Dominance In Pakistan
In Pakistan, China and the U.S. are clashing over China’s One Belt, One Road initiative. To understand what’s at stake, it helps to take a look at why China is in Pakistan in the first place.
The British Once Built A 1,100-Mile Hedge Through The Middle Of India
There was nothing charming about what the British built. It wasn’t meant to protect anything except imperial revenue. It grew along the Inland Customs Line, a bureaucratic barrier that the British created to impose a high salt tax on the people living on one side of the line—the relatively saltless one.
The Epic Rise And Hard Fall Of New York’s Taxi King
The man known as the Taxi King arrived at his 2014 holiday party in a $384,000 Ferrari, wearing a custom Italian suit. Five years later, that man, Evgeny A. Freidman, stood in a mostly empty courtroom in Albany, N.Y., as a judge sentenced him to probation for tax fraud.
The Cost Of Keeping Singapore Squeaky Clean
Founding father and first Prime Minister Lee Kuan Yew kicked off the Keep Singapore Clean campaign 50 years ago. The aim wasn’t just to make the city more pleasant. A cleaner city, Lee Kuan Yew reasoned, would create a stronger economy.
Millennials Don’t Stand A Chance
Millennials entered the workforce during the worst downturn since the Great Depression. They are now entering their peak earning years in the midst of an economic cataclysm more severe than the Great Recession. They will be the first generation in modern American history to end up poorer than their parents.
How The Mast Brothers Fooled The World Into Paying $10 A Bar For Crappy Hipster Chocolate
While customers can’t get enough of the company’s bearded, Brooklyn hipster founders, and their brilliantly marketed, $10 “bean to bar” chocolates, a term reserved for chocolate that has been produced entirely under the maker’s control, from the cocoa bean to the wrapped bar, chocolate experts have shunned them.
How India’s Richest Man Fought To Build An Empire
Mukesh and Anil Ambani inherited their father’s fortune. But while Mukesh’s wealth made him India’s richest man, his brother’s net worth tumbled to less than $2B. The story of their diverging fortunes is steeped in a family feud that has captivated India for over a decade.
Horror Stories From Inside Amazon’s Mechanical Turk
The workers of Mechanical Turk, Amazon’s on-demand micro-task platform, say they have encountered mutilated bodies, graphic videos of botched surgeries, and what appeared to be child pornography. They say they have been asked to transcribe Social Security numbers and other personal data.