The Strange Case of American Inequality
When income inequality began to rise in the 1980’s and 1990’s, economic historians expected to see a political reaction, as had occurred in democracies in the past. So why hasn't America, where 90% of income earners are worse off today than they were 20 years ago, given rise to similar movements for reform?
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BERKELEY – Unless something goes unexpectedly wrong in 2014, the level of real per capita GDP in the United States will match and exceed its 2007 level. That is not good news.