Gateway to
Sources and Information About Income Inequality in the United States
Millions
of Americans are working longer hours for lower wages, and yet almost all of
the new income and wealth being created is going to the top one percent. While
the top one percent have seen their incomes rise 18 percent over the past
decade, those in the middle have actually seen their incomes fall.
Scholars, from the Nobel-Prize-winning Paul Krugman to the
widely respected economist James Surowiecki, have been working to analyze these
disparities. Americans are not generally aware of the extent of this income
inequality. In most developed countries, there is a direct relationship between
income inequality and the public's views about the need to address the issue –
but not in America, where income inequality is worse but the concern is lower.
The most commonly accepted measurement of income inequality, the Gini Index,
ranks the United States sixth-worst among 173 nations.
Private-equity companies
are far more obviously connected to an undue concentration of wealth at the
expense of workers and communities than are collateralized-debt obligations,
which were at the core of our 2008 Great Recession. Within the one percent,
there is a top one percent that consists disproportionately of private-equity
and hedge-fund principals.