Binges Of 'High-Beta Rich' Shake Up U.S. Economy

"The rich are not only getting richer, they are becoming more dangerous," Robert Frank writes in his new book The High-Beta Rich: How the Manic Wealthy Will Take Us to the Next Boom, Bubble and Bust.

The spending binges of the top 1%, he says, are "the most unstable force in the economy."

Frank talks with NPR's Neal Conan about how some of the inhabitants of Richistana land of private jets, yachts and million-dollar watches — have lost their fortunes, and taken average Americans with them.

Copyright 2011 National Public Radio. To see more, visit http://www.npr.org/.

NPR

Is It All Greek To You? Thank Medieval Monks, And The Bard, For The Phrase

Ben Zimmer, language columnist at The Wall Street Journal, explains the origin of the phrase "it's all Greek to me" — and shares a few variants from other languages.
NPR

Do Try This At Home: 3 Korean Banchan (Side Dishes) In One Pot

If you've ever eaten at a Korean restaurant, you're used to the endless side dishes that come out with the meal. They're called banchan, and they're remarkably simple to make for yourself.
WAMU 88.5

Cutting Local Taxes in The District

The D.C. Council has taken steps to accelerate tax cuts for all income earners. They're part of a broader overhaul of the city's tax levels, but some council members argued there wasn't enough time for a rigorous debate about the new schedule. We explore the debate over cutting taxes for D.C. residents and how it affects the city's ability to pay for critical local services.

NPR

Reddit CEO Says Miscommunication Led To Blackout Protest

A user revolt briefly shut down the social site last week after a key employee was dismissed. Interim CEO Ellen Pao says the company has "apologized for not communicating better" with site moderators.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.