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4 days ago · Piketty argues that, like the 20th century movement towards greater equality, recent patterns of increasing inequality are not inevitable. Nor are they explainable in terms of “personal talent ...
- Katherine Schaeffer
- Over the past 50 years, the highest-earning 20% of U.S. households have steadily brought in a larger share of the country’s total income. In 2018, households in the top fifth of earners (with incomes of $130,001 or more that year) brought in 52% of all U.S. income, more than the lower four-fifths combined, according to Census Bureau data.
- Income inequality in the U.S. is the highest of all the G7 nations, according to data from the Organization for Economic Cooperation and Development. To compare income inequality across countries, the OECD uses the Gini coefficient, a commonly used measure ranging from 0, or perfect equality, to 1, or complete inequality.
- The black-white income gap in the U.S. has persisted over time. The difference in median household incomes between white and black Americans has grown from about $23,800 in 1970 to roughly $33,000 in 2018 (as measured in 2018 dollars).
- Overall, 61% of Americans say there is too much economic inequality in the country today, but views differ by political party and household income level.
Dec 10, 2021 · On average, an individual from the top 10% will earn $122,100, but an individual from the bottom half will earn just $3,920. And, when it comes to wealth (valuable assets and items over and above income), the gap is even wider. The poorest half of the global population owns just 2% of the global total, while the richest 10% own 76% of all wealth.
Oct 23, 2019 · Between 2008 and 2013, global inequality fell for the first time since the industrial revolution, according to the latest available data. This historic reversal was largely driven by rising incomes in populous developing countries that helped close the gap with high-income countries. “Our data suggest a modest decline in global inequality for ...
Feb 20, 2018 · They found that between 2003 and 2013, the worldwide Gini coefficient fell from 0.69 to 0.65, indicating reduced income inequality. Moreover, the two economists predict that by 2035, income inequality will decline further, with the Gini coefficient falling to 0.61.
The world economy has become more unequal over the last two centuries. That inequality is characterized by widening economic gaps between nations, but not necessarily within nations. During this same period, the world economy has become more integrated globally. This leads some economists to suggest a relationship between global economic ...
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1.8 China: rising inequality alongside greater social mobility 47 1.9 The United States: opportunity “hoarding” among high-income households 49 1.10 Inequality and the rise of populism 51
