Rich-richer, poor-poorer

IncomeInequalityAmidst all the ideology battles and free-floating anxiety in America today, one very important factor is consistently overlooked: increasing income inequality. Here is a good article on the subject by Michael I. Norton, associate professor at the Harvard Business School.

In a recent survey of Americans, my colleague Dan Ariely and I found that Americans drastically underestimated the level of wealth inequality in the United States. While recent data indicates that the richest 20 percent of Americans own 84 percent of all wealth, people estimated that this group owned just 59 percent – believing that total wealth in this country is far more evenly divided among poorer Americans.   NYT

Actual inequality is far worse than perceived inequality. Study after study has shown the link between rising income inequality and political unrest. So how do we help change the discussion?

Advertisements

About elkrapidslive

More than a lifelong connection to Elk Rapids
This entry was posted in Economy and tagged , . Bookmark the permalink.

One Response to Rich-richer, poor-poorer

  1. Pingback: Vanity Fair: Inequality – Of the 1%, by the 1%, for the 1% « The Fifth Column

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s