The Takeaway is continuing our conversation this week on income inequality in America. We’ve covered the Occupy movement, where inequality is a rallying cry, and we reported on a Congressional Budget Office report that highlighted the growth in uneven incomes over the last three decades.We’re taking another look at income inequality this morning, this time from a guest who says Occupy protestors are wrong to focus on income inequality.
A small group of economists are trying to study whether income inequality may have contributed to the economic collapse. The income gap in the years leading up to the recent recession, which is often compared to the Great Depression, has a striking resemblance to the income equality in 1928, when the top 10 percent of earners received nearly half of the total income. Finance reporter Louise Story wrote about this theory for The New York Times earlier in August, and we spoke with her about the income gap on The Takeaway last week.