Distribution of Household Wealth in the U.S. since 1989
Distribution of wealth
1989 Q3:
Top 10% - own 60.8%Bottom 50% - own 39.2%
2024 Q3:
Top 10% - own 67.3%Bottom 50% - own 32.7%
I don't think this can continue.
In Why Nations Fail, Daron Acemoglu and James A. Robinson, argue that one reason nations fail is when those in power grab the wealth of the nation for themselves.
We seem to be testing that theory in real time.
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