The declining leverage and status of ordinary people

Photo credit: iStock. Article by Brink Lindsey. Niskanen Center – October 26, 2022.

Discussion of the widening class divide tends to focus on money –the top 1 percent’s share of total income, trends in median income, wealth inequality, intergenerational mobility, and so on. The preoccupation is understandable: Economics is preeminent among the social sciences in prestige and influence, and economists naturally look to economic indicators. But if you examine contemporary socioeconomic inequality through a purely economic lens, you will fail to see the true depths of the problem. […]

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