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To the question "Are the rich getting richer?" Hacker notes that in 1979, 13,505 individuals or families earned the equivalent of $1 million per year. Only fifteen years later, that number had jumped to an incredible 68,064. The last few decades have indeed witnessed the rise of the "$1 Million a Year" American. The rich are getting richer, and more people are joining their ranks, but the lower income echelon is not dwindling. One in five children...
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"In his new book, Gar Alperovitz argues that the first decade of the twenty-first century - challenged by growing economic inequality, the devaluing of civil liberties, and a government unresponsive to the people - is already producing conditions that will force the United States to undergo historic changes." "There have been five major political realignments in American history, from before the Progressive Era to beyond the New Deal. All have occurred...
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Eberstadt argues that the official poverty rate is incapable of accurately representing long-term trends for material want in modern America, and that standards of living for the official poverty population are far higher today than they were in 1964 or 1965, at the start of the War on Poverty.
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"This book is about wealth mobility. It is about how some people get rich while others stay poor, and it is about the paths people take during their lives that determine how well-off they will be. The advantages of owning wealth and the elusive nature of true wealth have long made questions about who is rich and why broadly appealing. In recent years, dramatic economic changes, accompanied by rising wealth inequality, have created renewed interest...
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In this provocative, witty, and revealing polemic, journalist Daniel Brook argues that the exploding income gap--a product of the conservative ascendance--is systematically dismantling the American dream, as debt-laden, well-educated young people are torn between their passions and the pressure to earn six-figure incomes. Rising education, housing, and health-care costs have made it virtually impossible for all but the corporate elite to enjoy what...
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"It is widely assumed that Americans care little about income inequality, believe opportunities abound, admire the rich, and dislike redistributive policies. Leslie McCall contends that such assumptions are based on both misleading survey data and past economic conditions. In fact, Americans have desired less inequality for decades, and McCall's book explains why. Americans become most concerned about inequality in times of inequitable growth, when...
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Rebecca M. Blank offers the first comprehensive analysis of an economic trend that has been reshaping the United States over the past three decades: rapidly rising income inequality. In clear language, she provides an overview of how and why the level and distribution of income and wealth has changed since 1979, sets this situation within its historical context, and investigates the forces that are driving it. Among other factors, Blank looks closely...
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It is conventional wisdom to focus on the wealth of the top 1 percent -- especially the top 0.01 percent -- and how the ultra-rich are concentrating income and prosperity while incomes for most other Americans are stagnant. But the most important, widening gap in American society is between the upper middle class and everyone else. Richard Reeves defines the upper middle class as those whose incomes are in the top 20 percent of American society. Income...
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The severe economic downturn has been blamed on many things: deregulation, derivatives, greedy borrowers, negligent lenders. But could there be a deeper problem that is so severe, so long-lasting, and so dangerous that it makes these problems look minor? Could we be facing an existential challenge to the promise of America? Inequality has reached historical highs. Throughout human history, this level of disparity has proven intolerable, almost always...
Description
Income inequality has been on the rise since the late 1970s, but the economic and financial crisis of 2008 instigated an unemployment epidemic that dramatically compounded this problem in the United States and catapulted the issue to the center of debate. There is wide agreement across the political spectrum that high inequality is contributing to undesirable circumstances such as stagnant household income, rising poverty rates, and increased borrowing...
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"From workers' wages to presidential elections, labor unions once exerted tremendous clout in American life. In the immediate post-World War II era, one in three workers belonged to a union. The fraction now is close to one in ten, and just one in twenty in the private sector--the lowest in a century. The only thing big about Big Labor today is the scope of its problems. While many studies have attempted to explain the causes of this decline, What...
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