Inequality: A long-term trend In the US, there has been little-to-no real wage growth for a majority of the population since the 1970s¹, and the wage gains that have manifested have flowed to the highest-paid Americans. The effects on wealth have been severe – the bottom 50% of wealth owners have experienced no net wealth
Americans' household wealth rebounded last quarter to a record high as the stock market quickly recovered from a pandemic-induced plunge in March. Yet the gains flowed mainly to the most affluent households even as tens of millions of people endured job losses and shrunken incomes. The Federal Reserve said Monday that American households' net worth
However you parse the data, capitalism increasingly appears to disproportionately benefit the very top performers. Jeff Bezos, the CEO of the company millions depended on for deliveries during coronavirus lockdown, is reportedly set to become the world’s first trillionaire. As forecast by business platform Comparisun, his unique status isn’t due to the current crisis. It is based on
Inequality is growing for more than 70 per cent of the global population, exacerbating the risks of divisions and hampering economic and social development. But the rise is far from inevitable and can be tackled at a national and international level, says a flagship study released by the UN on Tuesday. The World Social Report 2020, published
In most rich countries, inequality is rising, and has been rising for some time. Many people believe this is a problem, but, equally, many think there’s not much we can do about it. After all, the argument goes, globalisation and new technology have created an economy in which those with highly valued skills or talents
The United States is divided by wealth and social class, and the gap is widening. In 1980, according to the World Inequality Report, the richest 10% of the population held just under 35% of national income; by 2016, that share had risen to around 47%. As wealth disparities have widened, so have differences in outcomes.
Rising inequality has harmed low-income families not only by depriving them of a fair share of society’s income growth, but also in a more specific way: It has stacked the legal system even more heavily against them. According to a recent survey, more than 70 percent of low-income American households had been involved in eviction cases, labor
Three beliefs about globalization have propagated since the early 1980s. First, that globalization leads to a reduction in global inequality. Second, that high income growth among the richest will lift the incomes of the poorest. Third, that there is no alternative to rising inequality without turning our backs on trade and technology. The recently released World