America's 1% Hasn't Had This Much Wealth Since The Roaring Twenties | WHAT REALLY HAPPENED


America's 1% Hasn't Had This Much Wealth Since The Roaring Twenties

It’s not fashionable to wear flapper dresses and do the Charleston, but 1920s-style wealth inequality is definitely back in style.

New research says America’s ultra-rich haven’t held as much of the country’s wealth since the Jazz Age, those freewheeling times before the country’s finances shattered.

“U.S. wealth concentration seems to have returned to levels last seen during the Roaring Twenties,” wrote Gabriel Zucman, an economics professor at the University of California, Berkeley.

Zucman said all the research on the issue also points to large wealth concentrations in China and Russia in recent decades. The same thing is happening in France and the U.K., but at a “more moderate rise,” the paper said.

In 1929 — before Wall Street’s crash unleashed the Great Depression — the top 0.1% richest adults’ share of total household wealth was close to 25%, according to Zucman’s paper, which was distributed by the National Bureau of Economic Research.

Tags:

Comments

Bumper Sticker Inspiration

Old_Logan

(*T*R*U*M*P
America's 1% Hasn't Had This Much Wealth Since The Roaring Twenties
2*0*2*0)

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA