Why So Few American Economists Are Studying Inequality Excerpt: And there in no mention of the primary reason why America has one of the worst Income Disparity problems in the developed world. As I have shown in many a infographic the distribution of Income that flows up into "Wealth" and from there to "Net Worth" started at a particular time of our history. It was the 1980s when Reckless Ronnie chopped upper-income taxation from 70% (to which it had been lowered by Lyndon Johnson in the 1960s). That transition is fixed in America's economic history by this infographic: And the US has never ever been the same again, having created its Plutocrat Class that mindfully put its hands on the political process to bend outcomes to their desires ...
Since the G.D. and the assault on the labor movement, and particularly after FDR, the capitalist class has been very focused on destroying and discrediting all ideas of class conflict and of socialism. Consequently people, like lemmings, have followed the piper and accepted the anti-worker, anti-socialist propaganda they were handed. And today the citizens of the U.S. are largely ignorant of these things although they don't know it since they are filled with anti-socialist "analysis" and propaganda that "explains" why such things are bad. As you said, its a Plutocrat Class that put its hands on the political process to bend outcomes to their desires. But since the 2008 crash, there has been a surge in interest in alternative economic systems with socialism leading the search by a good bit. LaFayette, I understand you live in France. You apparently also lived in the U.S., right?