“When So Few Have So Much and So Many Have So Little”: Rising Inequality and The Dying American Dream

Abstract

The thesis describes the trajectory of income inequality and economic mobility in the United States throughout the later half of the 20th century. The thesis attempts to determine a causal link between high rates of income inequality with low rates of absolute and relative economic mobility. It seeks to discern the mechanism through which this happens. The thesis then turns to the broader discussion that revolves around causes of inequality such as inequality and growth, and surveys possible policies to treat income inequality and observe which policies work, such as a progressive tax on income and capital and which are less effective such as place based policies