Are We Stuck with Inequality?
Are We Stuck with Inequality?
- A close look at political history suggests that this widespread inference is convenient nonsense — convenient to economic elites. In fact, the distribution of income and wealth has bounced around a lot in the past century and a half. It was extreme in the first Gilded Age of the late 19th century, a little less so in the Progressive Era, extreme again in the 1920s, and remarkably egalitarian in the period between the New Deal and the early 1970s — and now extreme again.
- A close look at political history suggests that this widespread inference is convenient nonsense — convenient to economic elites. In fact, the distribution of income and wealth has bounced around a lot in the past century and a half. It was extreme in the first Gilded Age of the late 19th century, a little less so in the Progressive Era, extreme again in the 1920s, and remarkably egalitarian in the period between the New Deal and the early 1970s — and now extreme again.