An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Monday, March 4, 2013
The Huffington Post— Wealth Inequality Video Highlighting Difference Between Perception And Reality Goes Viral
Quote: This document presents details on the wealth and income distributions in the United States, and explains how we use these two distributions as power indicators.
Some of the information may come as a surprise to many people. In fact, I know it will be a surprise and then some, because of a recent study (Norton & Ariely, 2010) showing that most Americans (high income or low income, female or male, young or old, Republican or Democrat) have no idea just how concentrated the wealth distribution actually is. More on that a bit later.
As far as the income distribution, the most striking numbers on income inequality will come last, showing the dramatic change in the ratio of the average CEO's paycheck to that of the average factory worker over the past 40 years.
Tom,
ReplyDeleteHave you ever been to Bill Domhoff's site at UC Santa Cruz?
Wealth, Income, and Power
Quote:
This document presents details on the wealth and income distributions in the United States, and explains how we use these two distributions as power indicators.
Some of the information may come as a surprise to many people. In fact, I know it will be a surprise and then some, because of a recent study (Norton & Ariely, 2010) showing that most Americans (high income or low income, female or male, young or old, Republican or Democrat) have no idea just how concentrated the wealth distribution actually is. More on that a bit later.
As far as the income distribution, the most striking numbers on income inequality will come last, showing the dramatic change in the ratio of the average CEO's paycheck to that of the average factory worker over the past 40 years.
Also, look at the work of Emmanuel Saez at UC Berkeley
ReplyDeleteI think the TED video on inequality is much better, because it explains WHY inequality matters.
ReplyDeletehttp://youtu.be/cZ7LzE3u7Bw