Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
In perhaps Buffett's first televised profile, he explained a method of investing that prioritizes bargains and makes use of an occasional baseball analogy.Marketsread more
The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
A 58% majority of registered voters express unease about voting for Trump, but slightly more say the same about Joe Biden and Bernie Sanders, while Elizabeth Warren fares only...Politicsread more
Investors are asking how the world's third-largest defense spender could have left itself so vulnerable and what that means for the future.Politicsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
Solar power is on the rise. You can see the evidence on rooftops and in the desert, where utility-scale solar plants are popping up. The picture is not all rosy, but if the...Technologyread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Income inequality is a growing issue not only in the U.S., but across the globe. A 2017 report from global charity Oxfam found that the richest 1 percent of people in the world control 82 percent of the total wealth. Put another way, just 42 people own the same amount of wealth as the poorest 50 percent of the global population.
Income inequality can also be seen on a local scale. Using data from the U.S. Census's American Community Survey, Zippia mapped out how inequality varies from state to state according to each's Gini coefficient, a measure of income distribution used to gauge inequality.
Here's how all 50 U.S. states compare, ranked from most to least income inequality.
Zippia also analyzed how quickly inequality expanded in each state between 2010 and 2016. Here the 10 states where income inequality is growing at the fastest rate.
4. Rhode Island
6. TIE: New Mexico
6. TIE: Georgia
The issue became a topic of discussion leading up to the World Economic Forum earlier this year as billionaires and world leaders descended into Davos, Switzerland. The Washington Post cited a "growing unease" among attendees surrounding the increasing sense of economic inequality in the world.
Bridgewater Associates founder Ray Dalio warned of an increased pressure on the middle class as blue-collar jobs continue to disappear and predicted that those on the lower end of the economic spectrum would turn against those in power, the Post reported.
In his annual letter to CEOs, BlackRock's Larry Fink wrote: "Since the financial crisis, those with capital have reaped enormous benefits. At the same time, many individuals across the world are facing a combination of low rates, low wage growth, and inadequate retirement systems."
Some economic leaders have proposed plans to alleviate the problem. In Thomas Piketty's "Capital in the Twenty-First Century," the economist proposed a progressive tax on capital, instead of income, which he says will slow the spread of inequality while preserving competition.
While billionaire Bill Gates agrees with much of the discussion in Piketty's book, he proposes an alternative solution. "Rather than move to a progressive tax on capital, as Piketty would like, I think we'd be best off with a progressive tax on consumption," Gates wrote in a 2014 blog post. "Think about the three wealthy people I described earlier: One investing in companies, one in philanthropy, and one in a lavish lifestyle. There's nothing wrong with the last guy, but I think he should pay more taxes than the others."
Like this story? Like CNBC Make It on Facebook!