{"id":40926,"date":"2011-10-24T09:06:29","date_gmt":"2011-10-24T14:06:29","guid":{"rendered":"http:\/\/media.lclark.edu\/content\/hart-landsberg\/2011\/10\/24\/wealth-inequality\/"},"modified":"2011-10-24T09:06:29","modified_gmt":"2011-10-24T14:06:29","slug":"wealth-inequality","status":"publish","type":"post","link":"https:\/\/thesocietypages.org\/socimages\/2011\/10\/24\/wealth-inequality\/","title":{"rendered":"Wealth Inequality"},"content":{"rendered":"<p><a href=\"http:\/\/media.lclark.edu\/content\/hart-landsberg\/files\/2011\/10\/ob-pr379_wealth_g_20110916115942.jpg\" title=\"\" data-rel=\"lightbox-image-0\" data-rl_title=\"\" data-rl_caption=\"\"><\/a><\/p>\n<p><font face=\"Times New Roman\">The OccupyWallStreet movement has succeed in forcing the media to acknowledge the extent and seriousness of income inequality.<span>\u00a0 <\/span>In many ways wealth inequality is a bigger problem since it is wealth that largely underpins income and power differences.<span>\u00a0 <\/span>According to an Economic Policy Institute <a href=\"http:\/\/www.epi.org\/publication\/large-disparity-share-total-wealth-gain\/\">posting<\/a>, <\/font><\/p>\n<blockquote>\n<p><font face=\"Times New Roman\">the richest 5 percent of households obtained roughly 82 percent of all the nation\u2019s gains in wealth between 1983 and 2009. The bottom 60 percent of households actually had <em>less<\/em> wealth in 2009 than in 1983, meaning they did not participate at all in the growth of wealth over this period.<\/font><\/p>\n<\/blockquote>\n<p><font face=\"Times New Roman\">It is worth dividing the top 5% into what has now become two familiar groups, the top 1% and the next 4%.<span>\u00a0 <\/span>As the chart below shows, the top 1% of households captured 40% of all the growth in wealth over the period 1983 to 2009.<span>\u00a0 <\/span>The next 4% gained 41.5%.<\/font><\/p>\n<p><a href=\"http:\/\/media.lclark.edu\/content\/hart-landsberg\/files\/2011\/10\/ob-pr379_wealth_g_20110916115942.jpg\" title=\"\" data-rel=\"lightbox-image-1\" data-rl_title=\"\" data-rl_caption=\"\"><img loading=\"lazy\" decoding=\"async\" width=\"553\" src=\"http:\/\/media.lclark.edu\/content\/hart-landsberg\/files\/2011\/10\/ob-pr379_wealth_g_20110916115942.jpg\" alt=\"ob-pr379_wealth_g_20110916115942.jpg\" height=\"400\" \/><\/a><\/p>\n<p><font face=\"Times New Roman\">Putting these trends into dollars, households in the top 1% gained an average of $4.5 million in wealth and households in the next 4% gained an average of $1.2 million over the period.<span>\u00a0 It is worth restating that t<\/span>hose are just their gains.\u00a0How does your existing\u00a0wealth stack up against their gains? <\/font><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The OccupyWallStreet movement has succeed in forcing the media to acknowledge the extent and seriousness of income inequality.\u00a0 In many ways wealth inequality is a bigger problem since it is wealth that largely underpins income and power differences.\u00a0 According to an Economic Policy Institute posting,<br \/>\nthe richest 5 percent of households obtained roughly 82 percent [&#8230;]<\/p>\n","protected":false},"author":1853,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-40926","post","type-post","status-publish","format-standard","hentry"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts\/40926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/users\/1853"}],"replies":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/comments?post=40926"}],"version-history":[{"count":5,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts\/40926\/revisions"}],"predecessor-version":[{"id":44876,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts\/40926\/revisions\/44876"}],"wp:attachment":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/media?parent=40926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/categories?post=40926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/tags?post=40926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}