Saturday, December 16, 2006
Hogs at the trough
An important paper on inequality is discussed here
The original is here
Shorter version:
1. Wall Street Journal editorial page lies.
2. Rich are getting richer.
3. And:
From 1970 to 1984 the top 1 percent share [of income] increased steadily from 5 percent to 7.5 percent (Figure IX). From 1986 to 1988 the top shares of wage earners increased sharply, especially at the very top (for example, the top 1 percent share jumps from 7.5 percent to 9.5 percent). ... However, from 1988 to 1994, top wage shares stay on average constant, but increase very sharply from 1994 to 1998 (the top 1 percent wage share increases from 9 percent to 11 percent).
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