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A plot of intergenerational immobility against inequality, with the US highlighted in red (data from 2012) The "Great Gatsby Curve" is the term given to the positive empirical relationship between cross-sectional income inequality and persistence of income across generations. [1]
In Democrat-world, pre-tax income increased 2.64% annually for the poor and lower-middle-class and 2.12% annually for the upper-middle-class and rich. There was no Great Divergence. Instead, the Great Compression – the egalitarian income trend that prevailed through the 1940s, 1950s, and 1960s – continued to the present, albeit with incomes ...
The median wealth of married couples exceeds that of single individuals, regardless of gender and across all age categories. [11]It is impossible to understand people's behavior…without the concept of social stratification, because class position has a pervasive influence on almost everything…the clothes we wear…the television shows we watch…the colors we paint our homes in and the ...
Illustration from a 1916 advertisement for a vocational school in the back of a US magazine. Education has been seen as a key to socioeconomic mobility, and the advertisement appealed to Americans' belief in the possibility of self-betterment as well as threatening the consequences of downward mobility in the great income inequality existing during the Industrial Revolution.
The United States has the greatest income disparity among developed nations. [1] However, the inequality indicators vary considerably from state to state. States that have a high concentration of skilled jobs, implement regressive tax policies, or have weaker worker protections in general tend to have greater income inequalities.
Their findings place the United States as the most unequal and ranks poorly on social and health problems among developed countries. [175] The authors argue inequality creates psychosocial stress and status anxiety that lead to social ills. [176] A 2009 study attributed one in three deaths in the United States to high levels of inequality. [177]
The pandemic induced a significant economic toll on Americans, per a recent report, which indicated income inequality increased by 1.2% -- as measured by the so-called Gini index -- between 2020 ...
Illustration from a 1916 advertisement for a vocational school in the back of a US magazine. Education has been seen as a key to social mobility and the advertisement appealed to Americans' belief in the possibility of self-betterment as well as threatening the consequences of downward mobility in the great income inequality existing during the Industrial Revolution.