Describe three characteristics of the Age of Shared Prosperity and three characteristics of the Age of Growing Inequality.
What will be an ideal response?
During the Age of Shared Prosperity, rapid economic growth produced a steady rise in the median wage. But since the early 1970s, wages in the middle have more or less stagnated and the distribution of wages has become increasingly unequal. Inequality of wealth, measured by the concentration of net worth in the top 1% of the population, declined during the 1960s, only to rise sharply after the mid-1970s. By the 1990s, the top 1% controlled a larger share of private wealth than the bottom 90%. During the first period, incomes at all levels rose swiftly and the distribution gradually moved toward greater equality. Remarkably, from 1950 to 1975, the real incomes of the poorest 40% of families almost doubled. In contrast, from 1975 to 2000, incomes grew very slowly at the bottom and in the middle, but soared at the top. In fact, the average income of the top 5% of families more than doubled.
You might also like to view...
Primary groups do not reveal distinctive status positions
Indicate whether this statement is true or false.
According to Duck, in this phase of relationship end, the couple must come to terms with the breakdown/breakup of the marriage and piece together a rational, logical explanation that explains why the marriage "died."
A) intrapsychic B) grave dressing C) dyadic D) dyadic breakdown
Program budgeting systems include all EXCEPT which of the following functions:
a. divide revenues into the need of each program of the agency. b. have planning as their principal purpose. c. deal with inputs (revenues). d. can be thought of as “outcome budgeting.”
The U.S. Supreme Court ruled that no state may interfere with a woman's decision to have a medical abortion as long as the procedure is performed in:
a. a government clinic. b. the first trimester. c. good faith. d. an emergency room.