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The Elephant Curve, also known as the Lakner-Milanovic graph or the global growth incidence curve, is a graph that illustrates the unequal distribution of income growth for individuals belonging to different income groups. [1] The original graph was published in 2013 and illustrates the change in income growth that occurred from 1988 to 2008.
This is a stark contrast to the growth in income of their male counterparts. The employment rate of women in their 30s has increased from 39% in 1964 to 70% in 2004. [18] This sharp increase in income for working women, in addition to stable male salaries, is the reason upward economic mobility is attributed to women.
According to a 2004 analysis of income quintile data by The Heritage Foundation, inequality is less after adjusting for household size. Aggregate share of income held by the upper quintile (the top earning 20 percent) decreases by 20.3% when figures are adjusted to reflect household size. [261]
Quintile measures of inequality satisfy the transfer principle only in its weak form because any changes in income distribution outside the relevant quintiles are not picked up by this measures; only the distribution of income between the very rich and the very poor matters while inequality in the middle plays no role.
In 2016, average market income was $15,600 for the lowest quintile and $280,300 for the highest quintile. The degree of inequality accelerated within the top quintile, with the top 1% at $1.8 million, approximately 30 times the $59,300 income of the middle quintile. [45]
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The fourth quintile saw its mean net income increase by 29%, the middle income quintile by 21%, the second quintile by 17% and the bottom quintile by 6%, respectively. [ 39 ] The share of gross annual household income of the top 1% has increased to 19.4%, the largest share since the late 1920s.
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