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Jared Bernstein– On Inequality: Why Now?

06 Dec

I wouldn’t think that anyone would need to see much more than what this graph shows.

Jared Bernstein’s article gives some further explanation, which everyone should see.

All those idiots who just can’t figure out what the #Occupy movement is all about,… well, it doesn’t take any more than this. There’s a segment of the country that will just refuse to see. Even with this type of proof in front of them. They’re pretty much a lost cause anyway. But, reasonable people will look at this and understand where the problem lies. Everyone should read the whole article.

On Inequality: Why Now?

>Piketty and Saez: By rigorously creating and, equally importantly, sharing with the world, a long time series of income shares going back the early 1900s, these researchers have provided extremely compelling evidence of how skewed the distribution of income has become in this and other advanced economies. See here for recent CBPP work featuring P&S’s analysis (and here’s Saez’s website).

Here’s a picture from their work showing the share of income accruing to the top 1% since 1913. We’ve recently equaled highs in the inequality measure we haven’t seen since the late 1920s, and need I remind you, that didn’t end well.

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2 Comments

Posted by on December 6, 2011 in Economy

 

Tags: , ,

2 responses to “Jared Bernstein– On Inequality: Why Now?

  1. toph

    December 6, 2011 at 11:26 am

    Interesting thing is that if you look at that curve for other industrialized nations it has the same shape, though the US has by far the highest share for the 1%

     
  2. h2dog

    December 6, 2011 at 11:41 am

    That IS interesting. But, as you say, stark difference in the range.
    I wonder if the answer can be as simple as, ” as the US goes,–so does the world”. Over simplification, but the numbers are right there. Would be true from, maybe, the fourties till now, I would think.
    Some good information anyway. Thank those guys for putting the data together.
    Too bad republicans can’t use it.

     

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