Inequality

I really enjoyed this fact-filled conversation about education, friendships, community/neighborhoods, inequality, social and geographic mobility, role models, and college admissions between NYU professor Scott Galloway and Harvard professor Raj Chetty: I encourage you to watch the whole conversation, but I’ll highlight one thing Professor Chetty said: “You’re about 77 times more likely to attend an Ivy League college if you come from the top 1% relative to the bottom 20% of the income distribution…. ...

According to the United States Federal Reserve: The bottom 50% of Americans own 5.9% of America’s wealth The bottom 90% of Americans own 36.1% of America’s wealth The bottom 99% of Americans own 71.7% of America’s wealth The bottom 99.9% of Americans own 88.6% of America’s wealth Equivalently: The top 50% of Americans own 94.1% of America’s wealth The top 10% of Americans own 63.9% of America’s wealth The top 1% of Americans own 28.3% of America’s wealth The top 0.1% of Americans own 11.4% of America’s wealth The bottom 20% of Americans actually have negative wealth, as illustrated well in this excellent CBS segment: Americans know wealth inequality is a problem, but what does it look like? - CBS ...