Historical perspective via the Huffington Post:
Believe it or not, income inequality in the United States is worse today than it was back in 1774. That’s what a recent report from the National Bureau of Economic Research has found.
In “American Incomes 1774 to 1860,” authors Peter H. Lindert and Jeffrey G. Williamson argue that the American colonies were exceptionally egalitarian, compared to both other nations at the time and the U.S. today. And their data even factors in slavery.
NBER’s is not the first study to contend that income inequality today is worse than before. A 2009 study looking at data stretching back to 1917 found that American income inequality was at an all-time high. Likewise, two historians concluded last year that income inequality today is worse even than it was during the Roman Empire [when] the top 1 percent of Ancient Roman earners controlled 16 percent of the Empire’s riches, compared to the top 1 percent of American earners today who control 40 percent of the country’s wealth.
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