Education and Earnings of the Bottom 99%
Education and Earnings of the Bottom 99%
“We are the 99%!” was the rallying cry of the short-lived Occupy Wall Street movement. It reflected concern about the finding that the share of total income enjoyed by the top 1% of earners has increased since the 1970s, about a society seen as being divided between the very rich and the increasingly poor (at least in a relative sense), and about the wide, impassable gulf separating the two. The rise in income share of the top 1% can be explained to a large extent by the rise of superstars capable of earning vast sums in today’s globalized, digitized, networked, and financially integrated economy. That was not possible in the past. In addition, those in the English-speaking world seem to be better positioned than others to take advantage of this new environment.
Keywords: Education, Inequality, Poverty, Income inequality, Divorce
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