Income inequality refers to the unequal distribution of income among a population. In the United States, income inequality, or the gap between the rich and everyone else, has been growing for the last several decades.
Economist Valerie Ramey of UC San Diego gives an insightful talk charting the rise, fall and rise again of income inequality in America over the last century. She highlights the special circumstances that created a “Golden Age” for the average worker in the 1950s and 1960s and then follows with the economic changes that led to today’s extreme disparity where the top 1 percent of US households earn nearly 20 percent of the nation’s income.
Watch: The Past, Present and Future of US Income Inequality with Valerie Ramey – Osher UC San Diego