At the time, there was some evidence behind that claim. In industrialised countries in the s and s every group was advancing, and those with lower incomes were rising most rapidly. Today the trend to greater equality of incomes which characterised the postwar period has been reversed.
Inequality in the Twenty-First Century Dec 15, Kaushik Basu As inequality continues to deepen worldwide, we do not have the luxury of sticking to the status quo. Unless we confront the inequality challenge head on — as we have just begun to do with another existential threat, climate change — social cohesion, and especially democracy, will come under growing threat.
And, among the severest, with the gravest long-term and even existential implications, is economic inequality. Voices on the right often claim that this inequality is not only justifiable, but also appropriate: This is a myth. The reality is that the poor, more often than not, must work extremely hard, often in difficult conditions, just to survive.
To continue reading, please log in or enter your email address. To read this article from our archive, please log in or register now. For unlimited access to Project Syndicate, subscribe now.
The state of the American middle class is at the heart of the economic platforms of many presidential candidates ahead of the election. Policymakers are engaged in debates about the need to raise the floor on wages and on how best to curb rising income inequality.
Here, income inequality has actually fallen, as shown by a decline in the average Gini index by 13%, from This bucks the global trend, of growing income inequality.
Income inequality. This general characterization of the inequality trend oversimplifies, though, the actual pattern of change: The chart below shows that the trend at the top of the income distribution (the “upper tail”) is not exactly the same as the trend at the bottom of the distribution (the “lower tail”).
Income inequality in the United States has increased significantly since the s after several decades of stability, meaning the share of the nation's income received by higher income households has increased. This trend is evident with income measured both before taxes (market income) as well as after taxes and transfer payments.
Income inequality has fluctuated considerably since. What this report finds: Income inequality has risen in every state since the s and in many states is up in the post–Great Recession era. In 24 states, the top 1 percent captured at least half of all income growth between and , and in 15 of those states, the top 1 percent captured all income growth.