U.S. economic inequality increases to pre-Great-Depression levels.

Fiona Sydney

2019-02-17 14:40:00 Sun ET

U.S. economic inequality increases to pre-Great-Depression levels. U.C. Berkeley economics professor Gabriel Zucman empirically finds that the top 0.1% richest adults own about 25% of total household wealth in America (in accordance with a similar economic inequality situation back in the 1920s).

When we broaden the core definition of the upper socioeconomic echelon, the top 1% richest households own 40% of national wealth as of 2016. This high wealth share compares with the 25%-30% thresholds back in the 1980s. Over the past 30 years, the bottom 90% household wealth share has significantly declined in similar proportions. Russia is the only comparable country with similar wealth inequality. The current Zucman empirical study resonates with the main themes of persistent global economic inequality in the recent book, Capital in the new century, written by Thomas Piketty. The root causes of U.S. income and wealth inequality include information technology adoption, elite education, high-skill human capital shortage, and talent concentration.

The government can design affordable college and graduate school education for young adults to better prepare for their vocational pursuits. Ubiquitous information technology adoption allows fresh talents to better appreciate the knowledge-driven productivity gains from robotic automation, artificial intelligence, and smart data analysis etc.

 


If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.

Blog+More

China President Xi tries to ease trade tension between America and China in his Boao presidential address.

Monica McNeil

2018-04-02 07:33:00 Monday ET

China President Xi tries to ease trade tension between America and China in his Boao presidential address.

China President Xi JinPing tries to ease trade tension between America and China in his presidential address at the annual Boao forum. In his vulnerable att

+See More

U.S. economic inequality increases to pre-Great-Depression levels.

Fiona Sydney

2019-02-17 14:40:00 Sunday ET

U.S. economic inequality increases to pre-Great-Depression levels.

U.S. economic inequality increases to pre-Great-Depression levels. U.C. Berkeley economics professor Gabriel Zucman empirically finds that the top 0.1% rich

+See More

Millennials can save to make a fortune with compound interest over 40 years.

Laura Hermes

2017-07-25 10:44:00 Tuesday ET

Millennials can save to make a fortune with compound interest over 40 years.

NerdWallet's new simulation suggests that a 25-year-old millennial who earns an inflation-free base salary of $40,456 and saves 15% each year faces a 99

+See More

Most business organizations should continue to create new value in order to achieve long-run success and sustainable profitability.

Peter Prince

2020-09-10 08:31:00 Thursday ET

Most business organizations should continue to create new value in order to achieve long-run success and sustainable profitability.

Most business organizations should continue to create new value in order to achieve long-run success and sustainable profitability. Todd Zenger (2016)

+See More

A physicist derives a mathematical formula for success.

Chanel Holden

2019-03-07 12:39:00 Thursday ET

A physicist derives a mathematical formula for success.

A physicist derives a mathematical formula that success equates the product of both personal quality and the potential value of a random idea. As a Northeas

+See More

American unemployment declines to the 50-year historical low level of 3.5% with moderate job growth.

Chanel Holden

2019-11-19 09:33:00 Tuesday ET

American unemployment declines to the 50-year historical low level of 3.5% with moderate job growth.

American unemployment declines to the 50-year historical low level of 3.5% with moderate job growth. Despite a sharp slowdown in U.S. services and utilities

+See More