econ 330 memo 2

econ 330 memo 2 - MEMORANDUM February 22, 2008 TO: Edward...

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MEMORANDUM February 22, 2008 TO: Edward G. Young Professor FROM: Anonymous ECON 330 Student RE: Income Distribution and Mobility It is my firm belief that not only is the income inequality growing in our society but we are becoming less economically mobile. The evidence from the Economist has shown the great increase in income inequality. Take a look at these three examples: The increase in income for the bottom fifth of the earning population grew a mere 6.4% from 1979 to 2000. The income growth for the top 1% grew by 184% though. Over the course of the last thirty years, the real annual income for the top 100 CEOs has gone from 39 times the pay of the average worker to over 1,000 times their pay. In 2001, the top 1% of households earned 20% of the whole economy’s income. The facts don’t lie. There’s clearly growth in our nation’s income inequality at an exponential rate. In addition to the growth in income inequality has been a growth in economic mobility.
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econ 330 memo 2 - MEMORANDUM February 22, 2008 TO: Edward...

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