The Income Gap

06/21/2013

The most important single ingredient in the formula of success is knowing how to get along with people.
Theodore Roosevelt

Yesterday we talked about the achievement gap, and today we look at the huge disparity between the wealthy and the rest of us. Robert Manning sent along this piece of news from The Boston Globe:

"It’s just a crumbling strip of asphalt barely big enough to fit two cars one behind the other — lined by weeds, hard against a brick wall, hemmed in by a utility pole. The closest thing it has to an amenity is straight white stripes. For this, a crowd gathered for an auction in the rain Thursday, because it wasn’t just any piece of pavement, but a pair of tandem parking spaces in one of the most parking unfriendly sections of the city: the Back Bay.

"Bidding began at $42,000. It shot up to six figures within seconds. When the auction ended 15 minutes later, the lucky winner agreed to pay $560,000...."

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