Escaping the New Gilded Age
https://www.project-syndicate.org/onpoint/wealth-inequality-billionaires-undue-influence-bad-for-society-by-daron-acemoglu-2024-09
In an America where wealth has increasingly become the primary source of social status, billionaires are viewed as entrepreneurial geniuses who exhibit unique levels of creativity, courage, foresight, and expertise on a wide range of topics. Yet it should be obvious that wealth is a poor metric for wisdom.
https://www.project-syndicate.org/onpoint/wealth-inequality-billionaires-undue-influence-bad-for-society-by-daron-acemoglu-2024-09
In an America where wealth has increasingly become the primary source of social status, billionaires are viewed as entrepreneurial geniuses who exhibit unique levels of creativity, courage, foresight, and expertise on a wide range of topics. Yet it should be obvious that wealth is a poor metric for wisdom.
Rising Top, Falling Bottom: Industries and Rising Wage Inequality by John Haltiwanger, Henry R. Hyatt, and James R. Spletzer
https://www.aeaweb.org/articles/pdf/doi/10.1257/aer.20221574
Most of the rise in overall earnings inequality from 1996 to 2018 is accounted for by rising between-industry dispersion. The contribution of industries is right-skewed with the top 10 percent of four-digit NAICS industries dominating. The top 10 percent are clustered in high-paying high-tech and low-paying retail sectors. In the top industries, high-wage workers are increasingly sorted to high-wage industries with rising industry premia. In the bottom industries, low-wage workers are increasingly sorted into low-wage industries, with rising employment and falling industry wage premia.
https://www.aeaweb.org/articles/pdf/doi/10.1257/aer.20221574
Most of the rise in overall earnings inequality from 1996 to 2018 is accounted for by rising between-industry dispersion. The contribution of industries is right-skewed with the top 10 percent of four-digit NAICS industries dominating. The top 10 percent are clustered in high-paying high-tech and low-paying retail sectors. In the top industries, high-wage workers are increasingly sorted to high-wage industries with rising industry premia. In the bottom industries, low-wage workers are increasingly sorted into low-wage industries, with rising employment and falling industry wage premia.