Tag Archives: The 1%

The Top of the World

The Top of the World
The core message of this enormous and enormously important book can be delivered in a few lines: Left to its own devices, wealth inevitably tends to concentrate in capitalist economies. There is no “natural” mechanism inherent in the structure of such economies for inhibiting, much less reversing, that tendency. Only crises like war and depression, or political interventions like taxation (which, to the upper classes, would be a crisis), can ... Read more

the predatory potential of the 1% across the U.S. in one chart

the predatory potential of the 1% across the U.S. in one chart
In each state in the nation, the top 1 percent of earners saw its share of the income pie grow between 1979 and 2007, according to a new 50-state study of income inequality. The change was starkest in Wyoming, where 9 percent of income belonged to the top 1 percent in 1979. By 2007, that top slice of earners laid claim to 31 percent of all income. It hasn’t always been the case, though. As the GIF above and graph below both show, the top 1 ... Read more