Why the Rich are so much Richer in the US

Nobel Prizewinner Joseph E. Stiglitz has been at the forefront of the debate in the US and elsewhere about growing inequality. In a recent review in the New York Review of Books, James Surowiecki comments on three recent books by Stiglitz. He says:

“The numbers are, at this point, woefully familiar: the top 1% of earners take home more than 20% of the income and their share has more than doubled in the last 35 years. The gains for people in the top 0.1%, meanwhile, have been even greater. Yet over that same period, average wages and household incomes in the US have risen only slightly, and a number of demographic groups (like men with only a high school education) have actually seen their average wages decline.”

See link to article below.       John Menadue

http://www.nybooks.com/articles/archives/2015/sep/24/stiglitz-why-rich-are-so-much-richer/?utm_medium=email

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John Laurence Menadue is the publisher of Pearls & Irritations. He has had a distinguished career both in the private sector and in the Public Service.

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