Economic Inequality: The Growing Divide
The old saying goes: The rich get richer, and the poor get poorer. Numerous studies and reports document a sharp escalation in the gap in income. The average worker’s hourly wages were higher in 1973. Meanwhile, executive compensation has soared. As the conservative Forbes magazine notes, “Billionaires have become a dime a dozen.” Chuck Collins thinks these trends pose problems for democracy and traditional notions of fairness.