$79 Trillion Worth of Income Inequality

Our own optimist economist Kathryn Anne Edwards worked on a research project several years ago to measure income inequality. Its massive headline number has taken on a life of its own in columns, talking points, memes. We explain how Kathryn and co-author Carter Price managed to answer this question: What would have happened to Americans’ incomes if they’d grown at the same rate as the U.S. economy overall? Spoiler alert: 90% of us would be a lot better off. Read the working paper Kathryn co-wrote in 2020: Trends in Income From 1975 to 2018 and Carter Price’s update going through 2023.