Inequality increase in US

Summers on Inequality

Some interesting data points from the article:

"...from Congressional Budget Office data that, since 1979, changes in income distribution had raised the pre-tax incomes of the top 1 per cent of the population by $664bn or $600,000 per family – an increase of 43 per cent."

"The lower 80 per cent of families are $664bn poorer than they would be with a static income distribution, which works out to $7,000 less in income per family or a 14 per cent loss."

These data clearly shows as argued in the article that policies just focussing on economic growth are not enough. No concrete policy alternatives are provided in the article.