上世纪60年代，美国家庭收入分布呈现中间宽、两头窄的"梭形"结构。但如今，处于收入中间地带的美 国人数量越来越少，富人和穷人的数量均不断攀升。按照现代物价换算，在1967年，年收入超过15万美 元的美国人占比略高于5%，现在这一比例超过30%；超过38%的美国人年收入低于5万美元，现在则降 至21%。 随着越来越多的人涌入"上流社会"，"梭形"收入分配曲线的"腰部"也在不断变得纤细，顶层人群与其他 群体之间的差距越来越大。"明星经济"也是一个显著特点。一个"明星公司"对高绩效者的奖励远超其他 人，而"明星人才"得到的回报也远高于常人，这位明星可能是知名演员歌手，也可能是高速成长企业中 的精英经理。 半个世纪以来，收入整体增加 美国彭博社 11 月 20 日文章，原题：美国中层正在 " 缩水 " 过去半个世纪以来，美国人从未如现在这般富 裕，收入与财富都实现了惊人增长，即使是较贫困的阶层和中产家庭也不例外。不过，由于更多人跻身 中上阶层，而富人阶级掌握了更多财富，美国的中产阶级不断"缩水"，收入不平等的现象日益加剧。好 消息是，美国人的钱包从未如此充实；坏消息是，大多数人并没有盆满钵盈之感。 美国人收入整体增加 ...

引发两党舆论争夺战的"可负担能力"究竟是什么？ 经济学家们认为，"可负担能力"与消费者价格指数（CPI）略有不同，它并不是政府衡量经济的方式， 而是家庭实际体验经济的方式。它并非一项经济指标，更多是一种体验和情绪。 收入排名前10%的家庭贡献了美国总消费的近一半。 美国两党正在就"可负担能力"（Affordability）展开一场攻防战。 本月初，民主党籍候选人凭借其聚焦"可负担能力"的竞选纲领在地方选举中接连取胜——提出免费公 交、冻结房租的马姆达尼以超50%的得票率当选新任纽约市市长，其中不少选票来自特朗普的支持者。 曾对"可负担能力"这一说法嗤之以鼻，指责这是民主党搞的"骗局"的美国总统特朗普也不得不转变态 度，就其经济政策做出更多解释。 "'负担得起'（Affordable）这个词应该是我们的，而不是他们的。"特朗普近日在参加麦当劳举办的一场 峰会时强调，"拜登政府引发了可负担能力危机，而我的政府正在结束它。" 美国威廉与玛丽学院经济学兼职教授阿特沃特（Peter Atwater）说，"可负担能力"是一个心理学术语， 而非经济学术语，并且对底层人群的影响远大于对顶层人群的影响。 "在这个问题上，要先理 ...

Core Insights - The article highlights the disparity between high GDP figures in the U.S. and the reality of income inequality, where a significant portion of wealth is concentrated among the top 1% while the bottom 90% experience sluggish income growth [1][3][13] Economic Disparity - From 1979 to the present, income inequality in the U.S. has widened significantly, with the top 1% capturing most of the economic growth, while the bottom 90% see minimal income increases [1] - The Gini coefficient, a measure of income inequality, increased by approximately 20% from 1980 to 2016, indicating a growing wealth gap [3] - The Federal Reserve reports that income inequality is linked to rising corporate debt, contributing to overall financial fragility [3] Inflation and Cost of Living - Inflation remains a pressing financial challenge for many Americans, with one-third of adults citing it as their top financial concern for 2024 [5] - Housing costs are a major contributor to inflation, accounting for two-thirds of inflationary pressures from 2024 to 2025, with housing prices having risen by 60% over the past six years [5][7] - The average American household is increasingly burdened by housing costs, with 31.3% spending over 30% of their income on housing [5][7] Healthcare Costs - The U.S. has the highest healthcare spending globally, with total expenditures reaching $4.9 trillion in 2023, translating to an average of $14,570 per person, a 7.5% increase from 2022 [9] - Nearly half of adults report finding healthcare costs burdensome, particularly among uninsured and minority populations [9] Education Debt - Student loan debt in the U.S. is projected to reach $1.814 trillion by 2025, affecting approximately 43 million borrowers [11] - The financial strain from education debt is compounded by rising living costs and stagnant wages, creating a cycle of financial difficulty for many households [11][13] Conclusion - The article underscores the disconnect between high GDP figures and the lived experiences of many Americans, suggesting that without addressing these systemic issues, social tensions may escalate [13]

Core Viewpoint - The 2025 Nobel Prize in Economic Sciences is highly anticipated, with diverse predictions regarding potential winners, including fields such as behavioral economics, labor economics, and international trade theory [1][2]. Group 1: Nobel Prize Overview - The Nobel Prize in Economic Sciences, officially known as the "Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel," has been awarded since 1969, with a total of 96 laureates as of October 12, 2025 [2]. - The prize is awarded annually on the anniversary of Nobel's death, and it can be shared among up to three individuals [2]. - The youngest laureate is Esther Duflo, who won in 2019 at the age of 46, while the oldest is Leonid Hurwicz, who was 90 when he won in 2007 [3]. Group 2: Female Laureates - Only three women have received the Nobel Prize in Economic Sciences: Esther Duflo, Elinor Ostrom, and Claudia Goldin [3]. - Elinor Ostrom was the first female laureate, awarded in 2009 for her work on public resource management, while Claudia Goldin received the prize in 2023 for her contributions to understanding women's labor market outcomes [3]. Group 3: Predictions and Trends - As the announcement date approaches, speculation about potential winners intensifies, with notable candidates including recipients of other prestigious awards like the Clark Medal and the Clarivate Citation Laureates [4]. - Recent winners of the Clarivate Citation Laureates in economics include David Autor and Lawrence F. Katz for their analysis of wage structure and income inequality, and Marianne Bertrand and Sendhil Mullainathan for their work on labor economics [4][5]. - The Nobel Prize committee emphasizes that awarded discoveries must have significant scientific merit and societal impact, leading to extensive subsequent research [5].

Group 1 - In 2024, the median total compensation for CEOs in S&P 500 companies rose to $19 million, a year-over-year increase of 7.2%, marking the fastest growth in four years [2] - CEO compensation growth significantly outpaced the inflation rate and overall wage growth for American workers, with total compensation for U.S. workers increasing by 3.6% and the Consumer Price Index (CPI) rising by 2.9% during the same period [2] - Farient Advisors noted that the increasing gap between executive pay and that of ordinary employees is likely to lead to stricter scrutiny of compensation packages [2] Group 2 - Axon Enterprise's CEO Rick Smith topped the list of S&P 500 executives with a total compensation of $165 million, primarily from stock awards linked to revenue targets, with the company's stock price soaring approximately 160% over the past year [4] - Starbucks CEO Brian Niccol ranked second with a total compensation of $95.8 million, which included a $5 million signing bonus and substantial stock awards to compensate for forfeited earnings from his previous role [4] - General Electric's CEO Larry Culp and Blackstone's CEO Stephen Schwarzman earned $88.95 million and $84.03 million, respectively, making them the second and third highest-paid executives among those leading S&P 500 companies for over a year [5] Group 3 - The disparity in compensation between CEOs and average employees has sparked controversy, with Starbucks CEO Niccol's salary being 6,666 times that of a part-time barista earning approximately $15,000 annually [6] - Experts argue that the widening income inequality is a significant issue, with the CEO-to-worker pay gap contributing to wealth concentration at the top and influencing the political landscape [6] - The high pay ratio between employees and CEOs may reflect the company's business model, with retail executives typically earning more compared to tech CEOs who hire full-time engineers [7]

Core Insights - In 2024, the median total compensation for CEOs of S&P 500 companies rose to $19 million, marking a 7.2% year-over-year increase, the fastest growth in four years [3][4] - This increase significantly outpaced the inflation rate and the overall wage growth of the U.S. labor force, which saw a total compensation growth of 3.6% and a consumer price index (CPI) increase of 2.9% during the same period [4] Group 1: CEO Compensation Trends - The total CEO compensation for S&P 500 companies increased by 7.7% last year [3] - Eric Hoffmann from Farient Advisors noted that executive pay growth continues to exceed inflation and average employee wage growth, leading to stricter scrutiny of compensation packages [4] Group 2: Notable CEO Earnings - Rick Smith, CEO of Axon Enterprise, topped the list with a total compensation of $165 million, primarily from stock awards linked to revenue targets [8] - Starbucks CEO Brian Niccol ranked second with a total compensation of $95.8 million, which included a signing bonus and significant stock awards [8] Group 3: Pay Disparity Concerns - The pay gap between executives and average employees has raised concerns, with Niccol's salary being 6,666 times that of a part-time barista earning approximately $15,000 annually [11] - Experts argue that the widening income inequality is exacerbated by the significant compensation disparities between CEOs and regular workers, influencing political dynamics in the U.S. [11]

Core Insights - The median total compensation for CEOs of S&P 500 companies has risen to $19 million in 2024, marking a 7.2% year-over-year increase, the fastest growth in four years [1] - This increase in CEO compensation significantly outpaces inflation and wage growth for the overall U.S. workforce, which saw a total compensation growth of 3.6% and a consumer price index (CPI) increase of 2.9% during the same period [1] Group 1: CEO Compensation Trends - The total compensation for S&P 500 CEOs increased by 7.7% last year, with the median reaching $19 million [1] - Eric Hoffmann, Chief Data Officer at Farient Advisors, noted that executive pay growth continues to exceed inflation and average employee wage growth [1] Group 2: Notable High Compensation Cases - Rick Smith, CEO of Axon Enterprise, topped the list of S&P 500 CEOs with a total compensation of $165 million, primarily from stock awards linked to revenue targets [3] - Starbucks CEO Brian Niccol ranked second with a total compensation of $95.8 million, which included a $5 million signing bonus and substantial stock awards [3][4] Group 3: Pay Disparity Concerns - The disparity in compensation between executives and average employees has raised concerns, with Starbucks CEO Niccol's salary being 6,666 times that of a part-time barista earning approximately $15,000 [5][6] - Experts argue that the growing income inequality and the concentration of wealth among the super-rich are exacerbated by such pay disparities [6]

Core Insights - The average monthly income for Chilean workers is 897,000 pesos (approximately 925 USD), while the median income is significantly lower at 611,000 pesos [1] - Income distribution in Chile shows notable inequality, with about 3.3% of workers earning over 3 million pesos (approximately 3,091 USD) and 15% earning between 500,000 and 600,000 pesos [1] - There are significant disparities in income based on gender, industry, and region, with male average income at 1 million pesos, which is 32.3% higher than female income at 757,000 pesos [1] - Public sector employees have the highest income at 1,228,000 pesos, compared to 958,000 pesos in the private sector and 491,000 pesos for self-employed workers [1] - Median income levels in the capital region, Magallanes, and Antofagasta exceed the national average, while other regions lag behind [1] - Despite a nominal income growth of 8.5% in 2024, employment rates have not yet returned to pre-pandemic levels [1]

Core Insights - The book "The Work of AI Era" by David Autor and others challenges the common belief that automation and AI will lead to massive job losses, suggesting that policy factors play a larger role in determining the distribution of technological benefits [3][4] - The authors argue that while automation can displace certain jobs, it also has the potential to create new job opportunities and enhance productivity in existing roles [4][5] Group 1: Impact of Automation and AI - Automation and AI technologies are reshaping job skill requirements, leading to a concentration of job growth in high-wage and low-wage occupations, while middle-wage jobs are declining due to their susceptibility to automation [6][7] - The transition from technology development to widespread adoption can take decades, allowing time for governments to implement policies that mitigate the impact of job displacement [4][5] Group 2: Policy Recommendations - The authors emphasize the need for fair policies that ensure the benefits of technological advancements are distributed equitably among shareholders, capital returns, and labor returns [7][8] - Recommendations include adjusting labor laws to link wage growth and minimum wage standards to economic growth, and providing protections for gig economy workers [8]

撰 文 / 钱亚光 设 计 / 赵昊然 4月15日，Stellantis集团批准了对前首席执行官唐唯实（Carlos Tavares）的 2309万欧元（约合2616 万美元）薪酬方案，他于2024年12月离开了这家汽车制造商。 之前，投资者们对唐唯实的2024年薪酬方案提出了反对意见。该方案包含他的薪资以及他在2025年 还将获得的1.2亿欧元的离职补偿金和里程碑奖金。 在唐唯实任 职期间，美国市场需求下滑，欧洲车型研发延迟，并且还与政界人士、经销商以及工 会发生了冲突。在年度股东大会上，股东们以66%对 33%的比例投票支持唐唯实的薪酬方案。 技术变革、国家间的冲突以及消费者的消费行为等因素，都未能改变汽车行业依然是全球最赚钱的 行业之一。尽管这一行业的首席执行官薪酬因人而异，但标准是统一的：那些能够引领行业巨头走 向新高度，并凭借出色财务表现创下新纪录的领导者们。 这种薪酬方案所产生的财务影响体现在面对新需求和全球挑战时的持续适应方面。不断增长的压力 促使汽车制造商在可持续性、创新和竞争力方面做出努力，从而加大了对新技术的投资，并在生产 多样性方面投入大量资金。通过观察该领域薪酬最高的首席执行官的工资水 ...