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The inequality of wealth (i.e. inequality in the distribution of assets) has substantially increased in the United States in recent decades. [2] Wealth commonly includes the values of any homes, automobiles, personal valuables, businesses, savings , and investments , as well as any associated debts.
Wealth in the United States is commonly measured in terms of net worth, which is the sum of all assets, including the market value of real estate, like a home, minus all liabilities. [20] The United States is the wealthiest country in the world. [21] U.S. Household and non-profit Net Worth 1959 – 2016, nominal and real (2016 dollars).
The first necessary condition for the phenomenon of wealth concentration to occur is an unequal initial distribution of wealth. The distribution of wealth throughout the population is often closely approximated by a Pareto distribution, with tails which decay as a power-law in wealth. (See also: Distribution of wealth and Economic inequality).
The wealth analysis draws from the 2022 Survey of Consumer Finance, which found that household wealth in America swelled at a record pace during the pandemic. From 2019 to 2022, the median net ...
America's economy has exploded since 1989. Gross domestic product, which measures all of the goods and services produced in a year, grew from $9.9 trillion to $22.5 trillion from 1989 to 2023 ...
In 2022, families in America's top 10% held 60% of all wealth, up from 56% in 1989. Families in the top 1% held 23% of the nation's wealth in 1989, which has now grown to 27%.
Their findings place the United States as the most unequal and ranks poorly on social and health problems among developed countries. [176] The authors argue inequality creates psychosocial stress and status anxiety that lead to social ills. [177] A 2009 study attributed one in three deaths in the United States to high levels of inequality. [178]
The Fed's quarterly data on wealth distribution estimates asset holdings and liabilities across racial, educational, age and income groups, and their shares of national totals.