The Economic System That Made the Grenfell Tragedy Possible

As raging flames consumed the Grenfell Tower housing complex, London’s genteel facade of civility melted away, exposing a hidden human tragedy at its urban core. The immediate cause of the blaze earlier this month was a lack of basic building safeguards, but the underlying tinder was decades of social disinvestment and callous neglect of the […]

Lifetime Incomes in the United States Over Six Decades

ABSTRACT Using panel data on individual labor income histories from 1957 to 2013, we document two empirical facts about the distribution of lifetime income in the United States. First, from the cohort that entered the labor market in 1967 to the cohort that entered in 1983, median lifetime income of men declined by 10%–19%. We […]

A Guide to Statistics on Historical Trends in Income Inequality

The broad facts of income inequality over the past six decades are easily summarized: The years from the end of World War II into the 1970s were ones of substantial economic growth and broadly shared prosperity. Incomes grew rapidly and at roughly the same rate up and down the income ladder, roughly doubling in inflation-adjusted […]

How Democrats Can Get Their Mojo Back

The great new dividing line in American life is the four-year college degree. The line runs through virtually every part of society. The pay gap between college graduates and everyone else has soared in recent years. The unemployment gap has, too. So have gaps in physical and social health. College graduates are living longer than they used […]