CREATIVE TIME: Kenny Cheng
The first thing that comes to mind when most people hear the word “inequalities” is the growth income gap between rich and poor in our society. In the last three decades, the economy has been growing very slowly. However, income growth happened mostly at the top of the income scale. The share of total income of the top 1% jumped from 8.9% in 1976 to 23.5% in 2007. Yet in the same period, the real hourly wage declined by over 7%.
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