What if inequality were to continue growing years or decades into the future? Say the richest 1 percent of the population amassed a quarter of the nation’s income, up from about a fifth today. What about half?
To believe Thomas Piketty of the Paris School of Economics, this future is not just possible. It is likely.
In his bracing “Capital in the Twenty-First Century,” which hit bookstores on Monday, Professor Piketty provides a fresh and sweeping analysis of the world’s economic history that puts into question many of our core beliefs about the organization of market economies.
Chosen excerpts by Job Market Monitor. Read the whole story at A Relentless Widening of Disparity in Wealth – NYTimes.com.
- IMF – There is growing evidence that high income inequality can be detrimental to achieving macroeconomic stability and growth
- US / The Top 20% Own 72%; The Bottom 20%, 3%
- Robert Shiller, Nobel prize for economics / Income Inequality Is ‘Most Important Problem’
- Inequalities / The 85 richest people as wealthy as poorest half of the world
- Good Times at the Top writes Krugman
- Rising inequality jeopardizes economic recovery says Federal Reserve’s Sarah Bloom Raskin
- The Top 1% / 39% Of The World’s Wealth