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U.S. income inequality: it’s not so bad

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  • Thomas A. Garrett

Abstract

Census data show that the income of the rich is growing faster than the income of the poor. But such common measures exaggerate the degree of income inequality. In addition, income inequality is the result of, and not a detriment to, a well-functioning economy.
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Suggested Citation

  • Thomas A. Garrett, 2010. "U.S. income inequality: it’s not so bad," Inside the Vault, Federal Reserve Bank of St. Louis, issue Spring.
    • Handle: RePEc:fip:fedliv:0012
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    References listed on IDEAS

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    1. Edward P Lazear, 2006. "Productivity and Wages," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 41(4), pages 39-45, October.
    2. Martin Feldstein, 1998. "Income Inequality and Poverty," NBER Working Papers 6770, National Bureau of Economic Research, Inc.
    3. Thomas A. Garrett, 2011. "Income mobility," Economic Synopses, Federal Reserve Bank of St. Louis.
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    Cited by:

    1. Theodore J Everett & Bruce M Everett, 2015. "Justice and Gini coefficients," Politics, Philosophy & Economics, , vol. 14(2), pages 187-208, May.

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