Income inequality is now at the same level it was in the Great Depression. One reason is a growing number of monopolies—whose existence is enabled by financial engineering and monetary policy
In one sense, it’s nothing new. The people with the highest incomes have more of the total. Math guarantees it.
Let’s review some charts from my friend Bruce Mehlman’s latest fascinating slide deck. It does a good job of explaining the drivers of this trend and its striking scale.If you take GDP as a gauge for national income, it’s been growing far faster than median family income—even adjusted for inflation. The wider that gap gets, the more people feel left behind.Here’s another one comparing stock market growth and family net worth.
It’s a marvelously steady progression up and to the right, temporarily marred by a recession here and there, but really quite awe-inspiring in its consistency. Yay, capitalism! As unhappy as all this is making people now, imagine how it will be when recession hits. And then couple that with an ever-increasing explosion of new technologies that reduce demand for many types of labor .Some degree of unhappiness and discontent is part of the human condition. It’s what drives us to improve.
When they perceive less ability to reach the next level on their own, they look to Washington for help.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
21 Products That Will Make You Say, 'I'll Take Two Please!'Why buy one of a great thing, when you could have TWO of a great thing?
और पढो »
How to make the switch from a two-income household to just oneWhatever the reason a couple considers going from two incomes to one, the decision can be overwhelming and even frightening. However, anyone can sail through this transition with proper planning and be glad they made the change.
और पढो »
Perspective | The District’s racial and income divide is cutting short the lives of black residentsPerspective: The District’s racial and income divide is cutting short the lives of black residents
और पढो »
America’s educational system is an ‘aristocracy posing as a meritocracy’Low-income kindergartners with high test scores are less likely to become well-off young adults than their higher income-peers with low test scores
और पढो »
Trump supported tax laws that likely helped him avoid income taxes for yearsWhile Trump now seems to ridicule real estate tax loopholes, almost 30 years ago he lobbied Congress to renew and expand them.
और पढो »
These 3 productivity hacks helped me boost my income 65 percent.NBCNewsBETTER: Knowing how much time is available, and deciding the best ways to use that time, helps to get more work done efficiently. Here’s what you should be doing differently.
और पढो »
Long-Term Study Shows Free Pre-K Helps Low-Income Students, And Their ChildrenIn a new study released Tuesday, a researcher found the positive effects of free pre-K stretched to the children of disadvantaged students enrolled in a much-studied preschool program more than 50 years ago.
और पढो »
Here's how much space you can afford to rent on a normal person's income in DCHere's how much space you can afford to rent on a normal person's income in DC (via CNBCMakeIt)
और पढो »
Fed’s Brainard says income inequality may be hampering U.S. economyFed Governor Lael Brainard said Friday that rising inequality could be one reason for lackluster consumer spending in the wake of the financial crisis.
और पढो »