Income inequality has been on the rise for decades. In the last 30
years, the wages of the top 1% have grown by 154%, while the bottom 90%
has seen growth of only 17%. As the rungs of the economic ladder move
further and further apart, conventional wisdom says that it will become
much more difficult to climb them. Opportunities for upward mobility—the
American dream—will disappear as the deck becomes stacked against the
middle class and the poor. But others see inequality as a positive, a
sign of a dynamic and robust economy that, in the end, helps everyone.
And contrary to public opinion, mobility has remained stable over the
past few decades. If the American dream is dying, is it the result of
income inequality? Or is disparity in income a red herring where more
complex issues are at play?
Source.
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