Income Inequality

The myth of democracy

Oligarchy, American Style, Paul Krugman, New York Times Op-Ed

“We have a society in which money is increasingly concentrated in the hands of a few people, and in which that concentration of income and wealth threatens to make us a democracy in name only.

“The [Congressional Budget Office] …documented a sharp decline in the share of total income going to lower- and middle-income Americans. We still like to think of ourselves as a middle-class country. But with the bottom 80 percent of households now receiving less than half of total income, that’s a vision increasingly at odds with reality…”

Categories: Income Inequality

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