Americans readily tolerate inequality of outcomes, accepting that it’s a necessary by-product of how we reward the hard work, initiative, and creativity that underpin our much envied economy. But we should not accept inequality of opportunity.
Author: Ray Boshara | Source: The Atlantic | Subjects: America, Economics | Economy, International, Politics & Public Policy
By the close of the 1990s the United States had become more unequal than at any other time since the dawn of the New Deal—indeed, it was the most unequal society in the advanced democratic world. The top 20 percent of households earned 56 percent of the nation’s income and commanded an astonishing 83 percent of the nation’s wealth. Even more striking, the top one … [ Read more ]
Author: Ray Boshara | Source: The Atlantic (January2003) | Subjects: Articles & Links, Economics | Economy, Excerpts, Politics & Public Policy