Income Inequality: Difference between revisions
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Created page with "=====Inside the Fight to Define Extreme Poverty in America===== [https://slate.com/business/2019/06/2-dollars-a-day-poverty-america-research.html Slate 6/06/2019] Kathryn Edi..." |
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Kathryn Edin and Luke Shaefer showed that by 2011, there were 1.6 million U.S. households with children that, for at least part of the year, had cash incomes that put them below the $2 per person mark. The number had risen from 636,000 in 1996—a 152.9 percent increase. | Kathryn Edin and Luke Shaefer showed that by 2011, there were 1.6 million U.S. households with children that, for at least part of the year, had cash incomes that put them below the $2 per person mark. The number had risen from 636,000 in 1996—a 152.9 percent increase. | ||
‘Socialism for the rich’: the evils of bad economics | =====‘Socialism for the rich’: the evils of bad economics===== | ||
[https://www.theguardian.com/inequality/2019/jun/06/socialism-for-the-rich-the-evils-of-bad-economics The Guardian 6/06/2019] | [https://www.theguardian.com/inequality/2019/jun/06/socialism-for-the-rich-the-evils-of-bad-economics The Guardian 6/06/2019] | ||
In both the US and the UK, from 1980 to 2016, the share of total income going to the top 1% has more than doubled. After allowing for inflation, the earnings of the bottom 90% in the US and UK have barely risen at all over the past 25 years. More generally, 50 years ago, a US CEO earned on average about 20 times as much as the typical worker. Today, the CEO earns 354 times as much. | In both the US and the UK, from 1980 to 2016, the share of total income going to the top 1% has more than doubled. After allowing for inflation, the earnings of the bottom 90% in the US and UK have barely risen at all over the past 25 years. More generally, 50 years ago, a US CEO earned on average about 20 times as much as the typical worker. Today, the CEO earns 354 times as much. | ||
