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Increasing Inequality

Lifetime income rose modestly for the typical man who entered the labor force from 1957 to 1966. But then it began to decline. In all, the median lifetime income for men who began working in 1983 was lower than for men who started in 1967, by 10 percent to 19 percent, depending on the inflation measure used. ...
The researchers found that declining lifetime income among men after 1967 was almost entirely attributable to lower incomes at younger ages, without any offsetting increases at later ages. ... Since today’s workers face those same trends, the same downward trend in lifetime income is likely.

As workers lose ground, inequality deepens, because money that would flow to wages tends to flow instead to those at the top of the income ladder.
- THE EDITORIAL BOARD, Work and Reward: The Great Disconnect, NYT, JULY 6, 2017


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