ce399 | research archive: (anti)fascism

Wealth Gap in US greater than since before Great Depression (NYT 26/1/11)

Posted in Uncategorized by ce399 on 13/05/2011

THE WEALTHY ELITE Intentionally or not, the World Economic Forum will focus attention on one of the most striking consequences of the technological revolution and the spread of globalization that has transformed the world economy in the last 30 years or so: the emergence of an international economic elite whose globe-trotting members have largely pulled away from their compatriots.

The trend is particularly stark in the United States, where from 1980 to 2005 more than 80 percent of the total increase in income went to the top 1 percent of the population. The gap there between the super-rich and everybody else is now greater than at any time since before the Depression of the 1930s. Chrystia Freeland



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