The Myth of American Inequality

Phil Gramm; Robert Ekelund; John Early

doi:10.5771/9781538167397

The Myth of American Inequality

How Government Biases Policy Debate

Published 2022

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doi.org/10.5771/9781538167397
ISBN print: 978-1-5381-6738-0
ISBN online: 978-1-5381-6739-7
Rowman & Littlefield, Lanham Rowman & Littlefield, Lanham

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Zusammenfassung

Everything you know about income inequality, poverty, and other measures of economic well-being in America is wrong. In this provocative book, a former United States senator, eminent economist, and a former senior leader at the Bureau of Labor Statistics challenge the prevailing consensus that income inequality is a growing threat to American society. By taking readers on a deep dive into the way government measures economic well-being, they demonstrate that our official statistics dramatically overstate inequality. Getting the facts straight reveals that the key measures of well-being are greater than the official statistics of the country would lead us to believe. Income inequality is lower today than at any time in post- World War II America. The facts reveal a very different and better America than the one that is currently described by policy advocates across much of the political spectrum. The Myth of American Inequality provides clear and convincing evidence that the American Dream is alive and well.

Schlagworte

poverty american inequality overstatement of inequality government statistical bias economic inequality

Keywords

inequality

Chapter Expand | CollapsePage
i–viii Preface i–viii
- Contents
- Preface
1–12 CHAPTER 1. Introduction: OFFICIAL STATISTICAL MEASURES UNDERSTATE AMERICA’S WELL-BEING 1–12
13–34 CHAPTER 2. Inequality in Producing and Consuming in America 13–34
35–42 CHAPTER 3. Poverty in America 35–42
43–58 CHAPTER 4. Trends in Income Inequality 43–58
59–82 CHAPTER 5. Causes of the Growth in Earned-Income Inequality 59–82
83–100 CHAPTER 6. Measures of Well-Being 83–100
101–118 CHAPTER 7. What about the “Super Rich”? 101–118
119–140 CHAPTER 8. The American Dream Is Alive and Well 119–140
141–164 CHAPTER 9. Fifty Years of Economic Progress 141–164
165–184 CHAPTER 10. Policy Implications and Conclusions 165–184
185–188 Appendix A. FEDERAL GOVERNMENT TRANSFER PROGRAMS 185–188
189–190 Appendix B. PERCENTAGE OF DEGREES BY ACADEMIC DISCIPLINE EARNED BY WOMEN 189–190
191–192 Appendix C. PERCENTAGE CHANGE IN MEASURES OF WELL-BEING WITH DIFFERENT PRICE ADJUSTMENTS, 1967–2017 191–192
193–194 Appendix D. OCCUPATIONS OF HIGH EARNERS 193–194
195–196 Appendix E. INTRAGENERATIONAL MOBILITY BY INCOME QUINTILE 195–196
197–198 Appendix F. INCOME DISTRIBUTION BY GEOGRAPHIC REGION 197–198
199–248 Notes 199–248
249–254 Index 249–254
255–256 About the Authors 255–256

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