Mar 19 2013
HARTMANN: What is the great divergence?
NOAH: The great divergence is an increase in income inequality that began in 1979 and continues to this day. Some people think that growing income inequality is the way of capitalism, but in fact, from the early 1930s through the late 1970s, incomes in the United States either grew more equal or remained stable in relation to one another. I’m talking here about middle class incomes and incomes of the wealthy. There was some convergence between those two groups in terms of income from the 30’s through the 70s, but a divergence began in 1979. We’ve seen a growing gap between middle class wages and the wages of the affluent.
Listen to the full interview with Thom Hartmann and Timothy Noah.
Thom’s Guest: Timothy Noah, is a senior editor of The New Republic, where he writes the TRB column. Noah is also a contributing editor to The Washington Monthly and a frequent commentator on CBS News’ Sunday Morning. He is author of ‘The Great Divergence: America’s Growing Inequality Crisis and What We Can Do About It’
Take a look at Timothy Noah’s website.
SONALI KOLHATKAR IS ON MATERNITY LEAVE.