Sunday, September 30, 2012

Inequality and Growth


From Jared Bernstein blog:

“The figure below plots yearly real GDP growth and the share of income going to the top 1%, 1929-2010.  The long inequality series follows a U (as opposed to an inverted U), as broadly speaking, post New Deal reforms and institutions (collective bargaining, minimum wages, safety net, social insurance), spreading industrialization, full employment job markets, and less globalization all led to more broadly shared growth until the 1970s.”

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