Wealth, Poverty and Power
In the 1980s, the rich got richer and the poor got poorer. That’s a fact, not a slogan. The decade of greed saw the greatest accumulation of wealth in history. According to Forbes, the conservative magazine, the combined net worth of the 400 richest Americans increased three times. A Brookings study showed that the top 1% had increased their share of national income from 8 to 15%. The number of millionaires and billionaires tripled. While the upper crust thrived, the rest of the population did not fare so well.
Holly Sklar writes for The Nation, Z, USA Today, and other journals and newspapers. She’s the author of Trilateralism, Streets of Hope, and Chaos or Community?: Seeking Solutions, Not Scapegoats for Bad Economics.