I have watched the Occupy protests with some interest. While I may not agree with their ideas, I have been appalled by their treatment by police forces.
Ignoring the policing issues, I was interested in the idea that the gap between the wealthy and the poor was widening. Historically, when that gap grew to large, we see revolutions.
How do we measure this gap? Income (taxable or not)? Net Worth? Consumption? Do you include government aid?
This is an interesting article on the subject:
http://www.businessinsider.com/economists-americas-wealth-gap-has-been-grossly-exagerrated-2012-6
This author chose to look at consumption. He has an interesting graph that looks at top and bottom household quintiles and tracks their consumption as a percentage of all national consumption.
Interestingly, this percentage is fairly flat over the 25+ year. The top quintile has stayed in a tight ~37%-39% range, while the bottom quintile has stayed in a very tight 9%-10% range.
Ignoring the policing issues, I was interested in the idea that the gap between the wealthy and the poor was widening. Historically, when that gap grew to large, we see revolutions.
How do we measure this gap? Income (taxable or not)? Net Worth? Consumption? Do you include government aid?
This is an interesting article on the subject:
http://www.businessinsider.com/economists-americas-wealth-gap-has-been-grossly-exagerrated-2012-6
This author chose to look at consumption. He has an interesting graph that looks at top and bottom household quintiles and tracks their consumption as a percentage of all national consumption.
Interestingly, this percentage is fairly flat over the 25+ year. The top quintile has stayed in a tight ~37%-39% range, while the bottom quintile has stayed in a very tight 9%-10% range.