the united states of inequality -.doc

the united states of inequality - TheUnitedStatesofInequalityTHEGREATDIVERGENCE:ENTRIES**********Duringthe20thcentury,,termedthe"pression"byeconomistsClaudiaGoldinofHarvardandRobertMargoofBostonUniversity,wasegalitarian.*From1940to1973,(.,),termedthe"GreatDivergence"byeconomistPaulKrugmanofPrinceton(andtheNewYorkTimesop-edpage),,,,2010:AnearlierversionofthisslidemisstatedGoldinandMargo'stermasthe"GreatConvergence."TheGreatDivergenceisn'rend,buttwo(hencethedottedlineinthepreviousslideseparatingthe"early"divergencefromthe"recent"one).Herewelookatthefirsttrend—("quintiles")(.,thepoorestfifth)relativetothetop20percent(therichestfifth).In1979thetopquintile'''ssharealsoincreasedrelativetothemiddle20percent,"collegepremium.",whicharen',economistsThomasPikettyoftheEcoled'(whotodayearnabout$368,000ormore).Thisgroup'emorethandoubled,from8percentin1973(pression),thebottom99percent'e,whichstoodat92percentin1973,'eleratedataparti