Tag: income inequality
Something remarkable is happening in the economics profession. Top researchers in the field have begun arguing for policies to alleviate growing U.S. income and wealth inequality. For decades, inequality wasn’t taken very seriously by economists. But that view “has changed dramatically,” said James K. Galbraith of the University of Texas at Austin, who moderated a…
Abstract This paper examines the relationship between technological progress and the riskiness of labor income using employer-employee matched income data from the United States. Results suggest innovation is associated with a substantial increase in the labor income risk, especially for workers at the top of the earnings distribution. The paper found that: Motivated by a…
