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1 of 1 people found the following review helpful:
5.0 out of 5 stars
A log-normal distribution,
By
This review is from: Top Heavy: A Study of the Increasing Inequality of Wealth in America (A Twentieth Century Fund Report) (Paperback)
Edward N. Wolff's study is an extremely clear statistical analysis of a for many reasons rather misty affair: wealth distribution in the US.His conclusion is that 'in 1989 the top 1 % of US families owned 48 percent of total US wealth'. His book confirms the ground-breaking sociological studies of William G. Domhoff. As Richard C. Leone remarks in his excellent introduction: ' We Americans have always flattered ourselves that we have more of two good things than almost anyone else: democracy and opportunity. To be sure, neither is simple.' For, beneath the top heavy wealthy lays the vast majority of US citizens with their burdens of debt, while a lower part hasn't even social security. In order to rectify the skewed situation, the author proposed a modest wealth tax, which at the top would not have been more than 10 %. Unfortunately, US fiscal policy went the other way round: taxation on the wealthy was further reduced. This short study (with many illustrative tables) is a must read for economists and laymen. |
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Top Heavy: A Study of the Increasing Inequality of Wealth in America (A Twentieth Century Fund Report) by Edward N. Wolff (Paperback - Sept. 1994)
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