For two decades after World War II, incomes grew at a rate close to the U.S. economy-wide growth rate. Anemic growth from 1969 to 1974 kept inequality in check. But since then, the benefits of growth have not been evenly distributed. Racial and gender inequality is also manifested in income inequality.
“The bulk of a generation of economic growth has been captured and concentrated in a few hands, and many people have barely seen any of it.”