Word: wolff
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According to Ed Wolff, an N.Y.U. economist who tracks wealth, the very rich have improved their lot in life by getting richer. Half a million U.S. households (one-half of 1% of the population) now own 39.3% of all assets (stocks, bonds, cash, life-insurance policies, paintings, jewelry, etc.). This makes the U.S. No. 1 among prosperous nations in the inequality of income...
...Wolff's statistics on the distribution of wealth during the Reagan years are particularly stunning. He calculates that the nation's net worth increased from $13.5 trillion to $20.2 trillion during the rewarding years of 1983 to 1989, and that $3.9 trillion of the reward was captured by the fortunate top one-half of 1%. That works out to a $3.9 million bonanza per wealthy household. Wolff says the last time the national assets were so unevenly distributed was in 1929, just before the stock-market crash...
According to Ed Wolff, an N.Y.U. economist who tracks wealth, the very rich have improved their lot in life by getting richer. Half a million U.S. households (one-half of 1% of the population) now own 39.3% of all assets (stocks, bonds, cash, life-insurance policies, paintings, jewelry, etc.). This makes the U.S. No. 1 among prosperous nations in the inequality of income...
...Wolff's statistics on the distribution of wealth during the Reagan years are particularly stunning. He calculates that the nation's net worth increased from $13.5 trillion to $20.2 trillion during the rewarding years of 1983 to 1989, and that $3.9 trillion of the reward was captured by the fortunate top one-half of 1%. That works out to a $3.9 million bonanza per wealthy household. Wolff says the last time the national assets were so unevenly distributed was in 1929, just before the stock-market crash...
...memo, addressed to Dean of the Graduate School Christoph J. Wolff, said the change was not due to any setback in construction plans, but was simply to allow extra "'give' for hidden structural problems or delays...