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The inequality of wealth (i.e. inequality in the distribution of assets) has substantially increased in the United States since the late 1980s. [2] Wealth commonly includes the values of any homes, automobiles, personal valuables, businesses, savings , and investments , as well as any associated debts.
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 CBO writes that growth of wealth in the bottom 25% averaged 3.9% from 1989 to 2019 and 12.4% from 2019 to 2022—largely driven by increases through Social Security wealth. This story was ...
The economic history of the United States spans the colonial era through the 21st century. The initial settlements depended on agriculture and hunting/trapping, later adding international trade, manufacturing, and finally, services, to the point where agriculture represented less than 2% of GDP .
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]
Between 2019 and 2022, Americans' real median net worth surged 37%, the largest three-year increase over the history of the Federal Reserve Board's triennial Survey of Consumer Finance. In ...
Image source: Getty Images. Income: The top 10% of American households by age. The chart below breaks down the before-tax income by age required to rank among the top 10% of American households.
In addition, wealth is unevenly distributed, with the wealthiest 25% of US households owning 87% [22] of the wealth in the United States, which was $54.2 trillion in 2009. [23] [24] U.S. household and non-profit organization net worth rose from $44.2 trillion in Q1 2000 to a pre-recession peak of $67.7 trillion in Q3 2007.