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The Public Costs of Low Wages Paid by the Fast-Food Industry(0)

November 1, 2013

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.”

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Lessons Learned from the Financial Crisis

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.

Books: ‘Owning Our Future: The Emerging Ownership Revolution’

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.

World Bank: New Data Show Historic Declines in Global Poverty

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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