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?


About elkrapidslive

More than a lifelong connection to Elk Rapids
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One Response to Rich-richer, poor-poorer

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

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