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The Rich Get Richer:American Wage, Wealth and Income Inequality

Author

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  • Thomas Hyclak

    (Lehigh University, USA)

Abstract

Inequality of wages among workers and inequality of income and wealth among families and households has been rising steadily for the past half-century in the United States and other developed economies. However, the United States stands out for having the most unequal wage and income distributions to begin with and for experiencing the fastest rise in inequality over the following decades. While this has been a long-developing situation and the subject of academic interest for some time, it is only in the last decade or so that inequality has attracted considerable public attention and become a political issue. Inequality has also become a subject of renewed interest among economists, with a growing number of scholars engaged in the development of new databases and the analysis of the causes and effects of increased inequality.

Suggested Citation

  • Thomas Hyclak, 2023. "The Rich Get Richer:American Wage, Wealth and Income Inequality," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 13438, August.
    • Handle: RePEc:wsi:wsbook:13438
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    File URL: https://www.worldscientific.com/worldscibooks/10.1142/13438
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    More about this item

    Keywords

    Wage Inequality; Income Inequality; Wealth Inequality; Gini Coefficient; Percentile Ratios; Shares by Decile; Labor Income; Non-Labor Income; Skill-Biased Technological Change; College Wage Premium; Gender And Racial Differentials; Job Polarization; Globalization; Off-Shoring; International Trade; Immigration; Global Supply Chains; Jobless Recoveries; Business Cycle; Monetary Policy; CEO Compensation; Collective Bargaining; Minimum Wage Level; Outsourcing; Net Worth; Transfer Payments; Disposable Income;
    All these keywords.

    JEL classification:

    • D6 - Microeconomics - - Welfare Economics
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs

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