If there’s one thing about what many are calling the “The New Gilded Age,” it’s that well-known corporations—not to mention less well-known, but extremely powerful ones—will fight extremely hard to keep secret just how lopsided the economic disparities have become in recent decades between low-paid workers in the society and the executive and ruling class that have reaped the words of a globalized, top-heavy economy.
In but one example, the CEO of JC Penny in 2011 made 1,795 times the amount of money as the average paid worker at the retail chain. Overall, the CEO-to-worker gap is up nearly 20 percent since 2009. What the numbers show, once again, is that in the US economy, some workers are more equal than others.
- DeLong: Inequality: Living in the Second Gilded Age (economistsview.typepad.com)
- Why Next to No Political Reaction to the Second Gilded Age? (economistsview.typepad.com)