In 2010, the richest 1% in the US captured an astonishing 93% of that year's gain in incomes. In the same year, corporate chief executives made, on average, 243 times as much as the median worker (in 1965 the ratio was 10 times lower). Between 1970 and 2010, the Gini coefficient, which measures inequality, rose in the US from 0.35 to 0.44: an astounding leap.
As for social mobility, of the rich countries listed by the OECD, the three in which men's earnings are most likely to resemble their father's are, in this order, the UK, Italy and the US. If you are born poor or born rich in these nations, you are likely to stay that way. It is no coincidence that these three countries all promote themselves as lands of unparalleled opportunity.
---SPSmith
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