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
Ford and Baidu team up to test autonomous cars in China.
Jonah Whanau

2018-11-01 08:36:00 Thursday ET

Ford and Baidu team up to test autonomous cars in China.

Ford and Baidu team up to test autonomous cars in China. For the next few years, Ford and Baidu plan to collaborate on the car design and user acceptance te

+See More
U.S. trading partners such as the European Union, Canada, China, Japan, Mexico, and Russia voice their concern at the WTO.
James Campbell

2018-07-05 13:40:00 Thursday ET

U.S. trading partners such as the European Union, Canada, China, Japan, Mexico, and Russia voice their concern at the WTO.

U.S. trading partners such as the European Union, Canada, China, Japan, Mexico, and Russia voice their concern at the World Trade Organization (WTO) in ligh

+See More
The Chinese Xi administration may choose to leverage its state dominance of rare-earth elements to better balance the current Sino-U.S. trade war.
Dan Rochefort

2019-06-13 10:26:00 Thursday ET

The Chinese Xi administration may choose to leverage its state dominance of rare-earth elements to better balance the current Sino-U.S. trade war.

The Chinese Xi administration may choose to leverage its state dominance of rare-earth elements to better balance the current Sino-U.S. trade war. In recent

+See More
Business leaders inspire teams to reach heights of both innovation and profitability with great corporate purpose.
Apple Boston

2020-08-26 10:33:00 Wednesday ET

Business leaders inspire teams to reach heights of both innovation and profitability with great corporate purpose.

Through purposeful leadership, senior managers inspire teams to reach heights of both innovation and profitability with great brand identity and customer lo

+See More
President Donald Trump criticizes Amazon over taxes and jobs.
Monica McNeil

2017-08-19 14:43:00 Saturday ET

President Donald Trump criticizes Amazon over taxes and jobs.

In a recent tweet, President Donald Trump criticizes Amazon over taxes and jobs. Without providing specific evidence, Trump accuses of the e-commerce retail

+See More
McKinsey Global Institute analyzes 315 U.S. cities in terms of how tech automation affects their workers in the next 10 years.
Dan Rochefort

2019-08-10 21:44:00 Saturday ET

McKinsey Global Institute analyzes 315 U.S. cities in terms of how tech automation affects their workers in the next 10 years.

McKinsey Global Institute analyzes 315 U.S. cities and 3,000 counties in terms of how tech automation affects their workers in the next 5 to 10 years. This

+See More