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Wednesday, April 02, 2014

'The Wealth Gap in America Is Growing, Too'

This shouldn't be a surprise:

The Wealth Gap in America Is Growing, Too, by Annie Lowrey, NY Times: It is, by now, well known that income inequality has increased in the United States. The top 10 percent of earners took more than half of the country’s overall income in 2012, the highest proportion recorded in a century of government record keeping.
But wealth inequality has been increasing too, as a new study by Thomas Piketty of the Paris School of Economics and Gabriel Zucman of the University of California, Berkeley, shows. In a preliminary report, Mr. Zucman and Emmanuel Saez, also of Berkeley, find that at the very top, wealth is distributed as unevenly as it was in the early 20th century. And the wealthiest 0.1 percent, and especially the 0.01 percent, have left the rest of the 1 percent in the dust. ...

    Posted by on Wednesday, April 2, 2014 at 09:39 AM in Economics, Income Distribution | Permalink  Comments (45)

          


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