A casual reader might be forgiven for being confused by the global conversation around poverty and inequality these days. On the one hand, there is relentless talk about rising inequality, and the ever-larger income shares captured by the top 1%. In the United States, this trend – which is very pronounced – is accompanied by falling wages at the bottom of the distribution, at least according to Figure 4 here. This seems to confirm the timeless adage that the rich are getting richer, while the poor keep getting poorer.
- shared prosperity