'Lance Taylor's latest book delivers a comprehensive treatment of inequality in the USA since the beginning of the 1970s. Both specialists and the general public will benefit from Taylor's signature knack for intuitive analyses of complex numbers and theories. The book convincingly argues that wage suppression drives much of the observed rise in inequality, and is delivered in convincing fashion. It is a sober reminder that addressing challenges faced today requires profound institutional and social changes.' Codrina Rada, University of Utah

Autorentext
Lance Taylor is the Arnhold Professor Emeritus of International Cooperation and Development and was Director of the Center for Economic Policy Analysis at the New School for Social Research, New York.

Zusammenfassung
Rising US income and wealth inequality results from repression of real wage growth and production realignments benefitting the top one percent of households. Middle class wage-earning households have been hurt. Wage repression has led to slow inflation and low interest rates that sparked capital gains for the top one percent.

Inhalt

Introduction; 1. Decades of income inequality; 2. Macroeconomic income distribution; 3. 'Capital', capital gains, capitalization, and wealth; 4. Sectoral stagnation, flat productivity, and lagging real wages; 5. Institutions and models for maldistribution; 6. Possible future prospects; References.