Tag: inequality
Racial differences in workers’ finances are nothing less than shocking: whites have roughly six times more wealth than Latinos and black-Americans and double the income. These age-old disparities will be as familiar to readers as they are to economists. But a clear and updated picture of their magnitude was presented in a recent study. In…
The dramatic increase in U.S. inequality is due almost entirely to the expanding fortunes of the 1 percent. They have tripled their share of the nation’s total wealth to 21 percent since the 1970s. Such extreme concentrations of wealth are of growing concern to economists and even one Wall Street firm. They argue that it…
