James W. Harpel Professor of Capital Formation and Growth
Inequality has become a major political preoccupation in the advanced economies – and for good reason. In the US, according to the recently released World Inequality Report 2018, the share of national income claimed by the top 1% of the population rose from 11% in 1980 to 20% in 2014, compared to just 13% for the entire bottom half of the population. Qualitatively similar, though less pronounced, trends characterise other major countries such as France, Germany, and the UK.
Frankel, Jeffrey A. "Does Trade Fuel Inequality?" The Guardian, January 2, 2018.