It rigorously examines various explanations for the Depression, shows weaknesses in the simple answers often given for it, and provides some policy lessons for the future. Thus, it is a worthwhile addition to the vast literature concerning the Great Depression. By Paul Ryscavage. With the U.S. economy approaching the longest uninterrupted expansion on record, unemployment and inflation at their lowest levels in decades, and real earnings growing after years of stagnation, it may seem an odd time to write a book about income inequality in America. Yet, despite rosy economic conditions overall, not all Americans are riding the current wave of economic prosperity.
Millions remain in poverty.
It is accurately billed as a primer on income inequality. The book is well-written, readily understandable, and comprehensive. It provides an overview of the data, tools, and techniques used to gauge income inequality and a thorough assessment of income inequality trends in the United States. The book includes a discussion of some of the latest thinking on the underlying causes behind the growing earnings and income inequality of recent decades, and also compares the U.S. experience with that of other industrialized nations. The subject provokes controversy among economists because even though there is a general consensus that the distribution of income in America has become more polarized in recent decades, there is comparatively little agreement on the answers to questions that naturally follow.