Tuesday, April 12, 2011

One of the common tropes that one hears is that "the rich are getting richer". However, the data tells the opposite story (ungated version here). The percentage of the total wealth in the US owned by the richest 1% has been decreasing over the long term (from 38% of all wealth in 1916 to 21% in 2000), and very stable or declining more recently, depending on exactly when you start counting:
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A notebook to myself