As of last year, nearly 7 million Americans worked in the fast-food industry, with an average pre-tax yearly income of about $18,770, or just over $9 an hour. For a family of three, that’s well below the federal poverty line of $19,530. Families of fast-food workers are twice as likely to use public programs, according to a recent study, because of “the industry’s low wages, low work hours and low benefits.”Full Story»
On the fifth anniversary of the Lehman Brothers’ bankruptcy, columnist Gael O’Brien says the biggest takeaway of the 2007-8 financial meltdown may be how leaders misjudged the “footprint” of their institutions and the impact they can have on “bystanders” – a community, a country, and potentially countries around the world.
Marjorie Kelly, co-founder and former President of Business Ethics magazine, describes her new book as “a journey into the territory of the possible, a kind of advance scouting expedition for the collective journey of our global culture.” In an excerpt from the book, Kelly explores the concept of ownership – what it means to the global economy, and to her personally.
The World Bank reports that the number of people living below the $1.25-a-day poverty line declined from 52% of the population of the developing world in 1981 to 22% in 2008. But nearly 649 million of those who moved above the poverty line had a standard of living that was nevertheless below what would be defined as “poor” in middle-income developing countries and far below that of rich countries.
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