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

Our proprietary alpha investment model outperforms most stock market indices from 2017 to 2021.

Apple Boston

2021-02-02 14:24:00 Tuesday ET

Our proprietary alpha investment model outperforms most stock market indices from 2017 to 2021.

Our proprietary alpha investment model outperforms the major stock market benchmarks such as S&P 500, MSCI, Dow Jones, and Nasdaq. We implement

+See More

Angus Deaton analyzes the correlation between health and wealth in light of the economic origins of inequality worldwide.

James Campbell

2023-04-21 12:39:00 Friday ET

Angus Deaton analyzes the correlation between health and wealth in light of the economic origins of inequality worldwide.

Angus Deaton analyzes the correlation between health and wealth in light of the economic origins of inequality worldwide. Angus Deaton (2015)  

+See More

Kobe Bryant and several other star athletes have been smart savvy investors.

Charlene Vos

2019-08-08 09:35:00 Thursday ET

Kobe Bryant and several other star athletes have been smart savvy investors.

Kobe Bryant and several other star athletes have been smart savvy investors. In collaboration with former Web.com CEO Jeff Stibel, the NBA champion invests

+See More

Thomas Piketty connects the dots between economic growth and inequality worldwide with long-term global empirical evidence.

Chanel Holden

2023-05-28 10:24:00 Sunday ET

Thomas Piketty connects the dots between economic growth and inequality worldwide with long-term global empirical evidence.

Thomas Piketty connects the dots between economic growth and inequality worldwide with long-term global empirical evidence. Thomas Piketty (2017) &nbs

+See More

President Trump tweets that Apple can avoid tariff consequences by shifting its primary supply chain from China to America.

Olivia London

2018-09-11 18:36:00 Tuesday ET

President Trump tweets that Apple can avoid tariff consequences by shifting its primary supply chain from China to America.

President Trump tweets that Apple can avoid tariff consequences by shifting its primary supply chain from China to America. These Trump tariffs on another $

+See More

Main reasons for share repurchases

Apple Boston

2022-09-25 09:34:00 Sunday ET

Main reasons for share repurchases

Main reasons for share repurchases Temporary market undervaluation often induces corporate incumbents to initiate a share repurchase program to boost the

+See More