RATTNER (2005) BUSINESS WEEK, 8/8/90.

Not since the 20’s have the rich gotten richer. The top one tenth of one percent or 0.01 has doubled since the 80’s. The top 13,000 households generate on average 13 MILLION dollars ANNUALLY. The top 10% has grown by a third.

What happened? These changes made the rich richer. They are: globalization, service sector jobs of low pay, regressive taxes. Upward intra-generational mobility has stalled most of the population.

The writer suggests low cost new training and income insurance when a job leaves the country.

If we don’t do this, protectionism and welfarism will become popular. Additionally, some day the fluidity of the market will go south and the rich will see that their products are no longer affordable to the masses. Thus the stock market and the economy go south.