Rising global inequality 150 years after Capital

from Michael Roberts blog.

A very small elite owns the means of production and finance and that is how they usurp the lion’s share and more of the wealth and income.  The US Economic Policy Institute found that the top one percent of society derives an increasing portion of income gains from existing capital and wealth.  It is not because they are smarter or better educated.  It is because they are lucky (like Donald Trump) and inherited their wealth from the parents or relatives.

The work of Emmanuel Saez and Gabriel Zucman has shown that in the US, wealth has become increasingly concentrated in the hands of the super-rich.

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