The following article by Erynn Beaton, Maureen S. Scully and Sandra Rothenberg was posted on the Conversation website July 20, 2017:
Ample research indicates that the growing problem of wealth and income inequality could stunt U.S. economic growth and undermine our democracy while stirring political polarization. Given that the federal government shows little interest in fighting economic inequality and many states are ill-equipped to do much about it, what else can be done?
Studies have also found that the rich exert far more influence over government than the rest of us. This imbalance means that wealthy people who do something about inequality may have more power to make an impact than everybody else. As scholars of social change, we wanted to learn more about how a small number of affluent Americanschoose to spend their own time, clout and money fighting inequality.
A growing gap
The latest official estimates indicate that the richest 10 percent held 76 percent of the nation’s wealth as of 2013. That means for every US$10, these Americans own $7.60, leaving $2.40 for the remaining 90 percent. And the concentration of wealth is only getting worse. The richest 10 percent held only 67 percent of the nation’s wealth in 1989. Continue reading “How some rich people are trying to dismantle inequality”