Krugman uses this chart to note that economic inequality continues to rise. But I think an as interesting point is that the share of national income made by the top 0.01% has increased notably (in terms of a % rise from the start to the end of an administration) under 4 of the last 5 presidencies - Carter, Reagan, Clinton and GW Bush. Of course the recent shifts are particiularly dramatic, but this is something that's being going on for a while in our political/economic system. Of course this wasn't always the norm (it actually fell under the Wilson, Hoover and FD Roosevelt presidencies). One wonders if the very rich doing better under so many recent, and seemingly different, administrations, is a product of how the modern US political system works.
Posted by armand at August 14, 2009 11:11 AM | TrackBack | Posted to Economics | Politics