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Wealth Inequality & Economic Disparities: The Big Short (2015)

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Wealth Inequality & Economic Disparities: The Big Short (2015)

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This movie follows investors who realize the housing market is built on fraudulent loans and unstable structures. It exposes how greed, deregulation, and short-term profit obsession led to the 2008 crash, devastating the conditions of ordinary people while bankers mostly escaped accountability of what was happening. Many people fell victim to subprime loans that were offered to borrowers with weaker credit histories. They were initially affordable due to their low introductory rates but then became unmanageable when interest rates started increasing. Because of this many people lost homes which increased homelessness and poverty. The quality of life for many people wasn't the same anymore.

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The Big Short Trailer (2015) ‐ Paramount Pictures

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Wealth Inequality & Economic Disparities: ‘Capitalism: A Love Story’

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Wealth Inequality & Economic Disparities: ‘Capitalism: A Love Story’

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Michael Moore examines how capitalism concentrates wealth among elites while devastating working-class families. He calls for alternative models, including stronger labor protections, democratic ownership structures, and a reevaluation of the role of profit in social organization. Critiques the U.S. system’s reliance on debt, foreclosure, layoffs, and political corruption, framing capitalism itself as the root of social injustice.

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Michael Moore's "Capitalism: A Love Story"

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Wealth Inequality & Economic Disparities: The Social Network (2010)

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Wealth Inequality & Economic Disparities: The Social Network (2010)

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The Social Network (2010) critiques the ethical void inherent in capitalist success narratives. Through Mark Zuckerberg’s rise and Facebook’s founding, the film portrays ambition not as a pure drive for innovation, but as one fueled by betrayal, exploitation, and strategic legal maneuvering. Success is shown to depend less on originality or collaboration and more on the ability to capitalize ruthlessly on opportunity. Zuckerberg’s conflict with the Winklevoss twins and Eduardo Saverin highlight how capitalist systems commodify ideas, privileging power and speed over ethical considerations. Personal relationships are rendered transactional, with friendship and loyalty sacrificed in pursuit of corporate dominance. Fincher’s cold aesthetic underscores this emotional detachment, suggesting that capitalism not only rewards exploitation but dehumanizes those who participate in it.

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THE SOCIAL NETWORK - Official Trailer [2010] (HD)

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Wealth Inequality & Economic Disparities: Sorry We Missed You (2019) 

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Wealth Inequality & Economic Disparities: Sorry We Missed You (2019) 

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Sorry We Missed You (2019) follows a working-class British family navigating the harsh realities of gig economy labor. The father becomes a delivery driver and the mother a care worker, both labeled as “self-employed,” yet subject to rigid schedules, lack of protections, and punitive conditions. I selected this film for its raw and intimate portrayal of how precarious labor erodes personal dignity and family life. It resonates deeply with themes of economic disparity and class struggle, illustrating how neoliberal labor models exploit workers under the guise of autonomy, leaving them without security, upward mobility, or voice.

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SORRY WE MISSED YOU - Official Trailer [HD]

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Wealth Inequality & Economic Disparities: Parasite (2019) 

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Wealth Inequality & Economic Disparities: Parasite (2019) 

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Parasite explores the intersection of class, space, and economic inequality through the story of a poor family who infiltrates the household of a wealthy one by posing as skilled workers. The film stood out for its layered storytelling and visual metaphors, such as the vertical separation between the families’ homes, symbolizing systemic class hierarchy. It powerfully connects to course themes by exposing how capitalism breeds dependency, resentment, and social division. Parasite critiques how wealth insulates the privileged while the poor remain invisible until their desperation erupts into violence and chaos.

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Parasite [Official Trailer] – In Theaters October 11, 2019

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How Economic Inequality Might Affect a Society’s Well-Being (PBS NewsHour)

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How Economic Inequality Might Affect a Society’s Well-Being (PBS NewsHour)

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This segment explores the wide ranging effects of income inequality on societal health and cohesion. Drawing on expert interviews and data, it emphasizes how extreme disparities in wealth are linked to reduced social mobility, declining trust in institutions, and worsened mental and physical health. The piece was selected for its accessible, research-based approach to connecting economics with social outcomes. It resonates by showing that inequality harms not only the poor but also undermines the overall stability and prosperity of society. This connects directly to sociological concerns with class structure, quality of life, and the systemic impacts of wealth distribution.

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How economic inequality might affect a society's well-being

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Income and Wealth Inequality: Crash Course Economics #17

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Income and Wealth Inequality: Crash Course Economics #17

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This CrashCourse video outlines the difference between income and wealth inequality, discusses causes (wage stagnation, tax policy) and examines potential remedies like progressive taxation and social spending. It was chosen for its clear, engaging presentation of foundational economic concepts crucial for analyzing disparity. What stands out is its emphasis on how small differences in income can result in massive wealth gaps over time due to compounding advantages. This directly relates to course themes of class stratification and the reproduction of inequality through financial and policy structures. It also serves as a primer for understanding the long-term consequences of inequitable systems.

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Income and Wealth Inequality: Crash Course Economics #17

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How Wealth Inequality Affects the Economy (Gary’s Economics)

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How Wealth Inequality Affects the Economy (Gary’s Economics)

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This video from Gary’s Economics focuses on how the concentration of wealth in the hands of a few reduces economic dynamism and prosperity. It argues that inequality diminishes consumption and increases financial instability, as working-class people have less disposable income to fuel economic growth. I chose this video for its critical yet accessible economic critique grounded in macroeconomic principles. This resonates because it dismantles the idea that wealth accumulation by elites benefits society as a whole. It directly supports course themes concerning how capitalist systems may inherently generate and perpetuate class inequality and systemic imbalance.

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How Wealth Inequality Affects The Economy

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The Inequality of Wealth: Why It Matters and How to Fix It (London School of Economics)

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The Inequality of Wealth: Why It Matters and How to Fix It (London School of Economics)

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This panel discussion from the London School of Economics presents research-driven perspectives on why wealth inequality has intensified and offers policy solutions such as wealth taxes and universal services. It was selected for its credibility of its institutional platform. What stands out is the emphasis on wealth, not just income, as a central driver of class advantage and long-term inequality. The content ties into sociological theories on structural inequality, intergenerational mobility, and state intervention. It provides insight into how concentrated wealth shapes access to education, healthcare, housing, and political influence.

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The inequality of wealth: why it matters and how to fix it | LSE Event

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How Economic Inequality Harms Societies – Richard Wilkinson (TED Talk)

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How Economic Inequality Harms Societies – Richard Wilkinson (TED Talk)

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Richard Wilkinson uses global data to argue that income inequality negatively affects mental health, life expectancy, violence, and social cohesion across all income levels. Selected for its compelling presentation and statistical support, the talk effectively links economic inequality to wide-reaching societal dysfunctions. What stands out is the argument that relative income, not just absolute poverty, has profound psychological and behavioral consequences. This supports course themes on how inequality penetrates social systems, not just economic ones. It reinforces the sociological perspective that inequality shapes everything from health outcomes to community trust.

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How Economic Inequality Harms Societies: TED Talks Richard Wilkinson

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Unnatural Causes: Is Inequality Making Us Sick? (PBS Documentary)

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Unnatural Causes: Is Inequality Making Us Sick? (PBS Documentary)

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This documentary examines the social determinants of health, showing how income, education, race, and stress influence health outcomes more than medical access alone. It was chosen because of its in depth approach to linking economic status with biology and lifespan. What stands out is the notion that chronic stress from economic insecurity can have measurable physical impacts, especially in marginalized communities. It powerfully connects to course themes of social class and systemic inequality, emphasizing that health disparities are rooted in broader socio-economic conditions. This aligns with sociological understandings of health as both a biological and social phenomenon.

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Unnatural Causes: Is Inequality Making Us Sick? | David Williams | Calvin University

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Why Robert Reich Cares So Passionately About Economic Inequality (PBS NewsHour)

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Why Robert Reich Cares So Passionately About Economic Inequality (PBS NewsHour)

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This interview with former U.S. Secretary of Labor Robert Reich goes into the long-term dangers of widening economic inequality and corporate political influence. Reich discusses how middle-class erosion and corporate lobbying have deepened class divides. Selected for its authoritative voice and clarity, the segment highlights the role of policymaking in entrenching inequality. Reich’s framing of inequality as both an economic and moral issue strongly aligns with sociological concerns about fairness, power, and democracy. It emphasizes how policy choices, not just market forces, structure inequality and undermine civic participation.

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Why Robert Reich Cares so Passionately about Economic Inequality

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By Robert Reich Friday’s Making Sen$e segment featured economist Robert Reich and the film about his eternal struggle against “Inequality for All.” Friday night’s NewsHour featured about six-and-a-half minutes of an interview with newly minted movie star Robert Reich, professor of public policy at the University of California, Berkeley. We thought some folks might be interested in the entire discussion and therefore are presenting it in two installments, edited slightly for ease of reading. Here

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This documentary, narrated by economist and former U.S. Labor Secretary Robert Reich, examines the widening income gap in the United States. It delves into the structural and policy-driven causes of economic inequality, highlighting the erosion of the middle class and the concentration of wealth among the top earners. The film presents complex economic concepts in an accessible manner, using data visualizations and personal stories to illustrate the real-world impact of inequality. Reich’s expertise and engaging narration make it a compelling resource for understanding the mechanics behind wealth disparity. “Inequality for All” directly addresses economic disparity and class struggle, exploring how policy decisions, globalization, and technological changes have contributed to income inequality. It underscores the importance of equitable economic policies and the role of government in ensuring fair wealth distribution. ￼

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The True Cost (2015) – Directed by Andrew Morgan

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The True Cost (2015) – Directed by Andrew Morgan

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This documentary investigates the global fashion industry’s impact on people and the planet, focusing on the exploitation of workers in developing countries and environmental degradation. It reveals how consumer demand for cheap clothing fuels unethical labor practices and unsustainable production methods. By connecting consumer behavior in developed nations to labor conditions abroad, the film highlights the interconnectedness of global economic systems. It provides a poignant look at how corporate practices prioritize profit over human rights and environmental sustainability.

“The True Cost” explores corporate power and its influence on labor rights, illustrating the consequences of unchecked capitalism. It emphasizes the need for ethical consumption and corporate accountability in addressing economic inequality and social justice

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The True Cost (2015) ⭐ 7.7 | Documentary, Drama, News

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Park Avenue: Money, Power and the American Dream (2012)

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Park Avenue: Money, Power and the American Dream (2012)

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This documentary contrasts the lives of residents on Park Avenue in Manhattan, highlighting the stark divide between the wealthy elite and the working class. It examines how the affluent exert influence over the political system to perpetuate their wealth and power. The film provides a clear depiction of how economic inequality is maintained through political lobbying and policy manipulation. Its focus on a specific geographic location makes the abstract concept of wealth disparity more tangible. “Park Avenue” goes into the intersection of wealth, politics, and social class, demonstrating how economic power translates into political influence. It underscores the challenges of achieving economic equity in a system where policy decisions are often based on the interests of the wealthy.

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Park Avenue: Money, Power & the American Dream

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In Park Avenue: Money, Power & the American Dream, Alex Gibney presents his examination of how the gap between rich and poor Americans has become so stark.

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Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else (2012) 

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Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else (2012) 

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This documentary explores the emergence of a new class of global super-rich individuals and the widening gap between them and the rest of society. It investigates how globalization and technological advancements have facilitated unprecedented wealth accumulation for a select few. By providing insights from both the super-rich and those affected by economic policies favoring them, the film offers a comprehensive view of modern wealth inequality. It sheds light on the systemic factors contributing to the concentration of wealth.

“Plutocrats” examines the dynamics of economic disparity on a global scale, highlighting the implications of wealth concentration for democracy and social mobility. It aligns with discussions on the influence of billionaires and corporations on politics and society.

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Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else (Full Session)

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The Corporation critically examines the modern corporation, analyzing its legal status as a “person” and its behavior through a psychological lens. It investigates how corporations prioritize profit over social and environmental responsibilities. By dissecting the structure and influence of corporations, the film provides a foundational understanding of corporate power and its implications for society. It challenges viewers to consider the ethical dimensions of corporate behavior. The documentary explores the influence of corporations on politics and society, highlighting issues related to economic disparity and labor rights. It underscores the need for regulatory frameworks to ensure corporate accountability and equitable wealth distribution.

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The Corporation | Documentary | 2-hour Version

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This documentary features Noam Chomsky discussing the decline of the American middle class, attributing it to neoliberal economic policies, deregulation, and the erosion of labor rights. It examines the historical and political factors contributing to economic inequality. Chomsky’s analysis offers a critical perspective on the systemic changes that have undermined the middle class. His insights provide a comprehensive overview of the political economy shaping current social and economic conditions. The documentary goes into class struggle and the impact of financial policies on wealth distribution. It aligns with discussions on the role of taxation, debt, and corporate influence in shaping economic inequality.

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The American Middle Class Crisis | Real Stories Noam Chomsky Wealth Inequality Documentary

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Essential is a documentary that delves into the lives of America’s working-class individuals, particularly focusing on essential workers during the COVID-19 pandemic. It highlights the economic vulnerabilities and challenges faced by these workers, emphasizing the systemic income inequality that has been exacerbated by the health crisis. The film provides a touching exploration of the struggles endured by essential workers, shedding light on their indispensable roles and the lack of adequate support and recognition they receive. Its timely subject matter and focus on real-life experiences make it a compelling resource for understanding the human impact of economic disparities during unprecedented times.

“Essential” directly addresses themes of economic disparity and social class by showcasing how systemic inequalities affect the working class, especially during crises. It underscores the importance of labor rights, fair wages, and the need for policy reforms to protect vulnerable populations. The documentary serves as a case study for examining the intersection of public health emergencies and socioeconomic inequalities.

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Essential -- A Documentary about America's Working Class and the Challenge of Income Inequality

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Wealth Distribution in America (1990–2023)

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Wealth Distribution in America (1990–2023)

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This chart shows the stark concentration of wealth among the top 0.1%, whose share has steadily increased while the bottom 90% see minimal growth. It’s significant because it visualizes how wealth inequality has deepened over time, reinforcing systemic privilege. Selected for its clarity and longitudinal depth, it directly speaks to issues of elite control, declining economic mobility, and the erosion of the middle class.

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These visualizations outline how race, homeownership, education, and inheritance shape wealth outcomes. They’re critical in showing that economic inequality isn’t just about income, it’s structural and intergenerational. Chosen for their width and precision, they illuminate barriers to upward mobility and reveal how wealth is concentrated by identity and background.

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Average wealth has increased over the past 50 years, but it has not grown equally for all groups. Between 1963 and 2016,

families near the bottom of the wealth distribution (those at the 10th percentile) went from having no wealth on average to being about $1,000 in debt,

those in the middle more than doubled their wealth,

families near the top (at the 90th percentile) saw their wealth increase fivefold,

and the wealth of those at the 99th percentile-in other words, those wealthier than 99 percent of all families-grew sevenfold.

These changes have increased wealth inequality significantly. In 1963, families near the top had six times the wealth (or, $6 for every $1) of families in the middle. By 2016, they had 12 times the wealth of families in the middle.

Income is money coming into a family, while wealth is a family's assets -things like savings, real estate, businesses-minus debt. Both are important sides of families' financial security, but wealth cushions families against emergencies and gives them the means to move up the economic ladder. Also, wealth disparities are much greater than income disparities: three times as much by one measure.

Income inequality can worsen wealth inequality because the income people have available to save and invest matters. Focusing on private income, such as earnings and dividends, plus cash government benefits, we see that the income of families near the top increased roughly 90 percent from 1963 to 2016, while the income of families at the bottom increased less than 10 percent.

Families of color will soon make up a majority of the population, but most continue to fall behind whites in building wealth. In 1963, the average wealth of white families was $121,000 higher than the average wealth of nonwhite families. By 2016, the average wealth of white families ($919,000) was over $700,000 higher than the average wealth of black families ($140,000) and of Hispanic families ($192,000).

Put another way, white family wealth was seven times greater than black family wealth and five times greater than Hispanic family wealth in 2016. Despite some fluctuations over the past five decades, this disparity is as high or higher than it was in 1963.

White families accumulate more wealth over their lives than black or Hispanic families do, widening the wealth gap at older ages. In their 30s, whites have an average of $147,000 more in wealth than blacks (three times as much). By their 60s, whites have over $1.1 million more in average wealth than blacks (seven times as much).

Median wealth by race is lower. Though the dollar gap grows with age, the ratio doesn't grow in the same way: whites have seven times more median wealth than blacks in their 60s and 70s.

Why is the racial and ethnic wealth gap so big? People with lower earnings may have a harder time saving. The average white man earns $2.7 million over a lifetime, while the average black man earns $1.8 million and the average Hispanic man earns $2.0 million. The difference in lifetime earnings is lower for women: the average white woman earns $1.5 million, while the average black woman earns $1.3 million and the average Hispanic woman earns $1.1 million. These disparities partly reflect historical disadvantages that continue to affect later generations.

Blacks and Hispanics are less likely to own homes, so they more often miss out on this powerful wealth-building tool. Homeownership makes the most of automatic payments-homeowners must make mortgage payments every month-to build equity.

In 1976, 68 percent of white families owned their home, compared with 44 percent of black families and 43 percent of Hispanic families. By 2016, the homeownership gap had narrowed slightly for Hispanics but widened for blacks. Black and Hispanic families were also less likely to own homes than white families with similar incomes.

In 2016, white families had about $130,000 more (or six times more) in average liquid retirement savings than black and Hispanic families. In sheer dollar terms, this disparity has increased more than fivefold over the past quarter-century: in 1989, white families had about $25,000 more (or five times more) in average retirement savings than black and Hispanic families. This gap is becoming more important as liquid retirement savings vehicles, like 401(k)s, replace more traditional defined-benefit pension plans.

Why does this gap exist? It's not just income differences; even at the same income level, gaps remain. Black and Hispanic families have less access to retirement saving vehicles and lower participation when they have access. But lower access and participation isn't the full story.

Black workers are somewhat less likely to participate in employer retirement plans than white workers ( 40 percent versus 47 percent in 2013, respectively) but have much lower average liquid retirement savings. This suggests that simply having more employers offer retirement plans will not be enough to close the gap, especially if lower-income groups contribute smaller portions of their income to retirement plans and are more likely to withdraw money early to cover financial emergencies. Lower-income families may also get lower returns on average if they invest in safer, shorter-term assets.

Since the mid-2000s, black families, on average, have carried more student loan debt than white families. This is driven in large part by the growing share of black families that take on student debt. In 2016, 42 percent of families headed by black adults ages 25 to 55 had student loan debt, compared with 34 percent of similar white families.

Because black families, on average, have less wealth and fewer private resources, they may be more likely to turn to loans to finance their education. White families are five times more likely than black families to receive large gifts or inheritances, which can be used to pay for college.

However, black students also have lower graduation rates than white students. Student loan debt doesn't always translate into a degree that promotes economic mobility-and income and wealth-in the long run.

The federal government spends over $400 billion to support asset development, but those subsidies primarily benefited higher-income families- exacerbating wealth inequality and racial wealth disparities.

About two-thirds of homeownership tax subsidies and retirement subsidies go to the top 20 percent of taxpayers, as measured by income. The bottom 20 percent, meanwhile, receive less than 1 percent of these subsidies. Blacks and Hispanics, who have lower average incomes, receive much less of these subsidies than whites, both in total amount and as a share of their incomes.

Low-income families benefit from safety net programs, such as food and cash assistance, but most of these programs focus on income-keeping families afloat today-and do not encourage wealth-building and economic mobility in the long run. What's more, many programs discourage saving: for instance, when families won't qualify for benefits if they have a few thousand dollars in assets or when they have to give up rent subsidies to own a home.

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Nine Charts about Wealth Inequality in America (Updated)

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Average wealth has increased over the past 50 years, but it has not grown equally for all groups.

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This chart reveals that women of color earn significantly less than white men, with Black and Native American women experiencing the largest gaps. It’s significant because it quantifies the compounded disadvantage of race and gender in labor markets. Selected for its intersectional lens, it reinforces how social class intersects with identity in the wage economy

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These charts show that while worker productivity has risen, real wages have remained mostly flat since the 1970s. This disconnect illustrates how corporate gains have bypassed workers, feeding into widening inequality. I selected this for its clarity and relevance, it highlights the power imbalance between labor and capital in shaping modern class structures.

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Download PDF

Our country has suffered from rising income inequality and chronically slow growth in the living standards of low- and moderate-income Americans. This disappointing living-standards growth-which was in fact caused by rising income inequality-preceded the Great Recession and continues to this day. Fortunately, income inequality and middle-class living standards are now squarely on the political agenda. But despite their increasing salience, these issues are too often discussed in abstract terms. Ignored is the easy-to-understand root of rising income inequality, slow living-standards growth, and a host of other key economic challenges: the near stagnation of hourly wage growth for the vast majority of American workers over the past generation. Countering that by generating broad-based wage growth is our core economic policy challenge.

With a group of simple charts, this paper brings the challenge we face into sharp focus, and lends clarity to the steps we must take to meet it.

It should not be surprising that trends in hourly wage growth have profound consequences for American living standards. After all, the vast majority of Americans rely on their paychecks to make ends meet. For these families, the bulk of income comes from wages and employer-provided benefits, followed by other income sources linked to jobs, such as wage-based tax credits, pensions, and social insurance. Wage-related income also accounts for the majority of total income among the bottom fifth of households.

Wage stagnation for the vast majority was not created by abstract economic trends. Rather, wages were suppressed by policy choices made on behalf of those with the most income, wealth, and power. In the past few decades, the American economy generated lots of income and wealth that would have allowed substantial living standards gains for every family. The same is true looking forward: Overall income and wealth will continue to grow. The key economic policy question is whether we will adopt policies that enable everyone to participate in a shared prosperity, or whether the growth of income and wealth will continue to accrue excessively and disproportionately to the best-off 1 percent.

The first policy choice should be to quickly restore full employment. The Federal Reserve Board can do this by not raising interest rates and slowing the recovery in the name of fighting inflationary pressures until wage growth is much, much stronger. Congress and the president can pursue the return to full employment by making public investments that can create both jobs and future productivity growth. After this, policymakers should support those labor standards that can restore some bargaining power to low- and moderate-wage workers in coming years. That means policy actions such as passing a higher minimum wage, expanding rights to overtime pay, providing paid sick leave, protecting the labor rights of undocumented workers, and restoring the right to collective bargaining. Policymakers should reject trade treaties that provide corporations greater rights and sap our manufacturing job base.

1. The cost of inequality to middle-class households

The cost of unequal growth to middle-income households

This figure shows that the stakes of rising inequality for the broad American middle class are enormous. The figure compares the income growth of the middle three-fifths of American households since 1979 to their income growth had there been no growth in inequality. In 2007, the last year before the Great Recession, the average income of the middle 60 percent of American households was $76,443. It would have been $94,310, roughly 23 percent ( nearly $18,000) higher had inequality not widened (i.e., had their incomes grown at the overall average rate-an overall average buoyed by stratospheric growth at the very top). The temporary dip in top incomes during the Great Recession did little to shrink that inequality tax, which stood at 16 percent (nearly $12,000) in 2011.

2. Wage trends of the last three decades

The gap between the growth of productivity and that of a typical worker's pay

Slow and unequal wage growth in recent decades stems from a growing wedge between overall productivity-the improvements in the amount of goods and services produced per hour worked-and the pay (wages and benefits) received by a typical worker.

The figure shows that in the three decades following World War II, hourly compensation of the vast majority of workers rose 91 percent, roughly in line with productivity growth of 97 percent. But for most of the past generation (except for a brief period in the late 1990s), pay for the vast majority lagged further and further behind overall productivity. From 1973 to 2013, hourly compensation of a typical (production/nonsupervisory) worker rose just 9 percent while productivity increased 74 percent. This breakdown of pay growth has been especially evident in the last decade, affecting both college- and non-college-educated workers as well as blue- and white-collar workers. This means that workers have been producing far more than they receive in their paychecks and benefit packages from their employers.

Wage growth of the top 1%

The ability of those at the very top to claim an ever-larger share of overall wages is evident in this figure. Two things stand out. First is the extraordinarily rapid growth of annual wages for the top 1 percent compared with everybody else: Top 1 percent wages grew 138 percent, while wages of the bottom 90 percent grew just 15 percent. If the wages of the bottom 90 percent had grown at the average pace over this period-meaning that wages grew equally across-the-board-then the bottom 90 percent's wages would have grown by 32 percent, more than double the actual growth.

Stagnant wages for middle-wage workers, declining wages for low-wage workers

Over the entire 34-year period between 1979 and 2013, the hourly wages of middle-wage workers (median-wage workers who earned more than half the workforce but less than the other half) were stagnant, rising just 6 percent-less than 0.2 percent per year. This wage growth, in fact, occurred only because wages grew in the late 1990s when labor markets got tight enough-unemployment, for instance, fell to 4 percent in 1999 and 2000-to finally deliver across-the-board hourly wage growth. The wages of middle-wage workers were totally flat or in decline over the 1980s, 1990s and 2000s, except for the late 1990s. The wages of low-wage workers fared even worse, falling 5 percent from 1979 to 2013. In contrast, the hourly wages of high-wage workers rose 41 percent.

The wage and benefit plight of recent college graduates

The widespread problem of stagnant hourly wages is not a problem of insufficiently skilled or educated workers. As this figure shows, a four-year college degree has been no guarantee of decent wage growth. In 2013, inflation-adjusted hourly wages of young college graduates were lower than they were in the late 1990s, a trend that held for both young male and female college graduates. Thus, wage stagnation and erosion afflict even the one-third of workers who have earned a four-year college degree.

Recent college graduates have been less and less able to find jobs that provide health insurance. The share of young college graduates who have employer-sponsored health insurance coverage fell from 61 percent in 1989 to 31 percent by 2012. Most of this health-benefit erosion occurred since 2000, when just over half (53 percent) of recent college graduates had employer-provided health insurance. For high-school graduates, the decline was even steeper, from 24 percent in 1989 to just 7 percent in 2012.

3. Factors driving wage stagnation and inequality

CEO pay grabs a larger share of wages

In a nation of increasing inequality, the most extreme wage disparities are between the heads of large American corporations and typical workers. This figure tracks the ratio of pay of CEOs at the 350 largest public U.S. firms to the pay of typical workers in those firms' industries. In 1965, these CEOs made 20 times what typical workers made. As of 2013, they make just under 300 times typical workers' pay. This higher pay for CEOs does not reflect any increased contribution to corporate output: Other data show that CEO pay grew three times faster than the pay of the top 0.1 percent of wage earners and twice as fast as corporate profits. Moreover, the rising pay of executives was the largest factor in the doubling of the top 0.1 percent and top 1.0 percent share of overall household income growth. CEO pay gains help explain the growing divergence between pay and productivity.

Policy choices regarding the minimum wage fuel wage inequality

While pay at the top of the labor market has outpaced nearly every labor market indicator for decades, pay at the bottom-the federal minimum wage-has severely lagged. This figure shows the decline in the real (inflation-adjusted) value of the minimum wage since its high in 1968 as well as what the federal minimum wage would be today if it had kept pace with the growth of real hourly wages of production and nonsupervisory workers (who make up 80 percent of the workforce) or economy-wide productivity. Had the federal minimum wage kept pace with productivity it would be over $18 today. Though not shown in the figure, the federal minimum wage did keep pace with productivity in the 30 years before 1968.

The minimum wage essentially establishes the wage levels of the bottom fifth of wage earners. These low-wage workers are far more educated and are older than low-wage workers in 1968. Yet, despite being more skilled and productive, the wages they earn are lower than wages earned in 1968. The failure to raise the minimum wage had especially adverse effects on women and minority workers.

The erosion of collective bargaining hurts all workers

One of the main causes of stagnant wages and rising wage inequality is the decline of collective bargaining which has lowered the wages of both union and nonunion workers. The figure shows that the drop in the share of workers under collective bargaining contracts is the mirror image of the rise of incomes of the top 10 percent. This occurs because collective bargaining not only raises wages for organized workers but also leads other employers to raise the wages and benefits of nonunion workers to come closer to union wage standards. This phenomenon occurs when collective bargaining achieves even modest penetration. The erosion of collective bargaining can explain from one-fourth to one-third of the growth of wage inequality between 1973 and 2007 and had a greater impact on men than women. This erosion of collective bargaining occurred despite large numbers of workers indicating they would prefer collective bargaining if they had a choice. But the political power of those with the most income, wealth, and power prevented the adoption of laws to modernize our labor-management system and enable workers to pursue collective bargaining.

Other factors behind stagnating American wages

This paper provides a brief overview of some of the causes of wage stagnation and inequality. Sources in the references section provide a more complete analysis. Excessive unemployment, not only during and after the Great Recession but over most years since 1979, has suppressed wage growth, adversely affecting low-wage workers more than middle-wage workers but having little impact on high-wage workers. Global integration with low-wage countries, accelerated by particular trade policies (e.g., admission of China to the World Trade Organization in the late 1990s) has adversely affected wages of non-college educated workers. The erosion of labor standards (beyond the decline in the real value of the minimum wage) and weak enforcement have also put downward pressure on wages. Extensive wage theft, worker misclassification, weakened prevailing wage laws and overtime protections, and the failure to modernize our labor standards to provide sick leave, family leave, or minimum vacation schedules all hurt wage growth. The increased presence of undocumented workers who are vulnerable to employer exploitation also undercuts not only the wages of these workers but also those in similar fields.

- The authors thank EPI research assistants Tanyell Cooke, Alyssa Davis, and Will Kimball for their valuable assistance in preparing the charts in this report.

About the authors

Lawrence Mishel, a nationally recognized economist,has been president of the Economic Policy Institute since 2002. Prior to that he was EPI's first research director (starting in 1987) and later became vice president. He is the coauthor of all 12 editions of The State of Working America. He holds a Ph.D. in economics from the University of Wisconsin at Madison, and his articles have appeared in a variety of academic and non-academic journals. His areas of research are labor economics, wage and income distribution, industrial relations, productivity growth, and the economics of education.

Elise Gouldjoined EPI as an economist in 2003 and is the institute's director of health policy research. Her research areas include employer-sponsored health insurance, inequality and health, poverty, economic mobility, and the employer tax exclusion. She is a coauthor of The State of Working America, 12th Edition. In the past, she has authored a chapter on health in The State of Working America 2008/09; coauthored a book on health insurance coverage in retirement; published in venues such as The Chronicle of Higher Education, Challenge Magazine, and Tax Notes; and written for academic journals including Health Economics, Health Affairs, Journal of Aging and Social Policy, Risk Management & Insurance Review, Environmental Health Perspectives, and International Journal of Health Services. She holds a master's in public affairs from the University of Texas at Austin and a Ph.D. in economics from the University of Wisconsin at Madison.

Josh Bivens joined the Economic Policy Institute in 2002 and is currently the director of research and policy. His primary areas of research include macroeconomics, social insurance, and globalization. He has authored or coauthored three books (including The State of Working America, 12th Edition) while working at EPI, edited another, and has written numerous research papers, including for academic journals. He appears often in media outlets to offer economic commentary and has testified several times before the U.S. Congress. He earned his Ph.D. from The New School for Social Research.

References

CEO Pay Continues to Rise as Typical Workers Are Paid Less, by Lawrence Mishel and Alyssa Davis, Economic Policy Institute, 2014

How Unions Help All Workers, by Lawrence Mishel and Matthew Walters, Economic Policy Institute, 2003

Raising America's Pay: Why It's Our Central Economic Policy Challenge, by Josh Bivens, Elise Gould, Lawrence Mishel, and Heidi Shierholz, Economic Policy Institute, 2014

Raising the Federal Minimum Wage to $10.10 Would Save Safety Net Programs Billions and Help Ensure Businesses Are Doing Their Fair Share, by David Cooper, Economic Policy Institute, 2014

The Class of 2014: The Weak Economy Is Idling Too Many Young Graduates, by Heidi Shierholz, Alyssa Davis, and Will Kimball, Economic Policy Institute, 2014

The State of Working America, 12th Edition, by Lawrence Mishel, Josh Bivens, Elise Gould, and Heidi Shierholz, Economic Policy Institute and Cornell University Press, 2012; updated online at www.stateofworkingamerica.org/

Unions, Inequality, and Faltering Middle-class Wages, by Lawrence Mishel, Economic Policy Institute, 2012

" Wage Inequality: A Story of Policy Choices," by Heidi Shierholz, Lawrence Mishel, and John Schmitt, New Labor Forum, August 4, 2014

Why America's Workers Need Faster Wage Growth-And What We Can Do About It, by Elise Gould, Economic Policy Institute, 2014

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Our country has suffered from rising income inequality and chronically slow growth in the living standards of low- and moderate-income Americans. This disappointing living-standards growth-which was in fact caused by rising income inequality-preceded the Great Recession and continues to this day. Fortunately, income inequality and middle-class living standards are now squarely on the political agenda....

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This chart tracks inflation rates across essentials like food, housing, and energy. The data shows that rising costs hit working-class families hardest. Selected for its relevance to everyday life, it underscores how economic pressures disproportionately burden those with lower incomes, worsening class divides.

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 Distribution of Household Wealth (1989–Present)

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 Distribution of Household Wealth (1989–Present)

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This visualization shows how the top 10% consistently control over 70% of household wealth, while the bottom 50% hold very little. It’s significant because it quantifies entrenched disparities and the limits of wealth redistribution. Selected for its empirical weight, it reinforces how inequality has become a stable feature of the U.S. economy.

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This chart illustrates the growing gap between productivity and worker compensation. While economic output increases, workers aren't seeing proportional wage gains. This graph was chosen for its simplicity and impact, its powerful indictment of how profits are extracted from labor without shared benefit, a core concern of class inequality.

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Racial Wealth Snapshot: Women, Men, and Racial Wealth Divide

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Racial Wealth Snapshot: Women, Men, and Racial Wealth Divide

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This chart shows persistent wealth gaps across racial and gender lines, even at similar education levels. It reveals that structural racism and sexism continue to shape economic outcomes. This graph was selected for its intersectional analysis. it reinforces the idea that wealth inequality is deeply embedded in social hierarches.

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This is one in a series of racial wealth snapshots.
See more here.

Introduction

Women have made great strides in the workplace, comprising nearly half of the workforce and surpassing men in higher education achievement. Yet women still earn less income, have less wealth and face greater economic instability than their male counterparts. The economic instability men and women face is profoundly influenced by racial economic inequality. This snapshot will briefly review the socio-economic differences between men and women and highlight how those differences intersect with racial and ethnic disparities in the United States.

Demographics

In 2019, 50.8% of the population were women, of which 60% were White, 18% were Latina or Hispanic, 12.9% Black, 5% Asian, and 0.7% Native American. The estimated population for women of color is expected to grow. The US Census Bureau projects that by 2060, 44.3% of women will be White, 27% Hispanic or Latina, 15.2% Black, 9.5% Asian, and 1.4% Native American.

Labor Participation & Unemployment

Over the last 50 years, there has been a steady increase in labor participation for women across the largest racial and ethnic categories. Women’s labor participation rates hit a high of almost 60% in the 2000s. In fact, as of January 2020, women accounted for the majority of the American workforce for only the second time in history – and the first in peacetime – standing at 50.04% of all payroll workers. Men have been experiencing a substantive decrease in labor participation, recently hitting a low of 66%. Since the mid-70s, Black and White men saw an 8% decline in labor participation while Latino men saw a decrease of half of that at 4%.

Conversely, Black, Latina and White women have experienced similar increases in labor force participation rates since the mid-70s, increasing about 15%. During this near 50-year period, Black women have been the leaders among women in labor force participation, with rates ranging from 53% to 66%. Both Black and White women saw the height of their labor force participation rate in 2000, with a gradual decline for both groups until the 2020 COVID-19 pandemic brought a more dramatic drop. In light of the COVID-19 pandemic, women and men have seen similar workforce declines. Approximately 17% of women in the sample either lost their job or were told not to work due to the ongoing COVID-19 pandemic, compared to 15% of men. This also holds for those who took unpaid leave, with women accounting for 16% to men’s 15%. The decline in labor participation has been the reality for both men and women since post the Great Recession, only exacerbated by the pandemic.

Interestingly, labor force participation does not cleanly correspond with economic well-being, particularly when looking at labor force participation for men and women. For example, both Black men and women are generally much more economically insecure than White men and women. Yet Black men have lower labor participation rates than White men, and Black women have higher participation rates than White women. Latinos and Latinas have higher labor participation rates than White men and women, yet are economically much more similar to Blacks with lower income and lower wealth.

It is also interesting to note that gender equality in labor participation is not a sign of economic well-being. While Blacks have the lowest gap between men and women in labor force participation at 4.9% as of 2020, they are still the most economically insecure large racial group. Latinos have the largest gender labor participation gap of 20.3%, but have similar economic standing to Blacks. Asians have the second-highest gender labor participation gap of 16.3%, followed by Whites at 13.5%. Though labor participation is not a clear indicator of economic well-being, there is a correspondence between economic well-being and unemployment.

Unemployment measures the percentage of those in the labor force actively seeking work. According to the U.S. Bureau of Labor Statistics, for December of 2021, unemployment rates for the total population (age 20 and older) was 3.9%, down from 6.7% in December 2020. Although everyone is feeling the economic pressures of the pandemic, people of color are facing higher unemployment rates than White men. At the end of the fourth quarter of 2021, 3.1% of White women were unemployed, compared to 6.2% of Black women and 4.9% of Hispanic women. Comparatively, White men faced a 3% unemployment rate, while the unemployment rate was 7% for Black men and 4.2% for Hispanic men. Disaggregated data for Asian men and women is unavailable, but the Asian unemployment rate is 3.8%. With the limited information we have, Whites were the only group where men have equal unemployment rates with women in their racial group. In contrast, Blacks were the only group where men had higher unemployment rates than women in their racial group.

Earnings

Women’s earnings differ considerably between varying racial and ethnic groups. In all but one of the major racial and ethnic groups, women earn less than men of the same race or ethnicity. The size and nature of this gender disparity varies significantly among racial and ethnic groups. In the fourth quarter of 2021, Asian Americans had the most significant gender income inequality, with a $17,000 annual disparity between men and women. Asian American men have weekly median earnings of $1,499 or about $78,000 over 52 weeks compared to Asian American women making median weekly earnings of $1,165 or $61,000 a year. Among Whites, the income gender disparity over a year is $10,000, with White men making approximately $59,000 and White women making $49,000. The Hispanic gender income disparity was only $6,000, with Hispanic men earning about $44,000 a year and Hispanic women about $38,000.

This gender gap disappears among African Americans. Both African American men and African American women make about $42,000 over 52 weeks. The US Bureau of Labor Statistics did not offer similar data for Native Americans.

Poverty

There are dramatic disparities in poverty rates by racial and ethnic groups and smaller disparities by gender. Men and women of color are more likely to live in poverty than White men and women, whose poverty rates in 2019 were 7% and 9%, respectively. In the same year, the rates of people of color who lived in poverty were 19% for Black men and 23% for Black women, 22% for Native American men and 25% for Native American women, 16% for Hispanic men and 19% for Hispanic women, and 10% for both Asian men and Asian women.

Men, Women, Marital Status, And Wealth

According to 2019 data highlighted by Dr. Mariko Chang, the median wealth for single women was $36,000, while the median wealth for single men was $43,800. Single women held 82 cents of wealth for every dollar of wealth owned by a single man.

African Americans, who in many categories have the greatest gender economic equality, have the greatest gender wealth disparity though still having little wealth compared to Whites. Single Black men’s median wealth was $10,100, compared to Single Black women’s median wealth of $1,700. Single White women have slightly higher median wealth levels than single White men. Single White women’s wealth is estimated at $81,200 compared to single White men at $78,200. Hispanics have the lowest wealth when examining single men and women. Single Hispanic mens’ median wealth was $4,200, compared with single Hispanic womens’ median wealth at $1,000.

Parenthood

While this data from the Asset Funders Network Center is from 2013, it sets a benchmark that highlights racial, ethnic, and gender disparities when accounting for children. The median wealth of single fathers is higher than single childless men’s wealth, while conversely, single mothers’ median wealth is lower than that of single childless women. This points to a widening inequality divide between single fathers and single mothers. The median wealth of single White mothers was $14,600, approximately $1,000 less than that of single White women. Comparatively, single White fathers’ wealth was $41,410, roughly $13,000 more than single White men. The median wealth of Single Hispanic mothers is $50, half the barely-existent $100 median wealth of single Hispanic women overall. The median wealth of single Hispanic fathers is $1,250, slightly higher than the $950 median wealth of single Hispanic men overall. This increase does little to address wealth poverty. The situation is similar among African Americans. Single Black women without children have a median wealth of just $200 – but for single Black mothers that figure drops to $0. Wealth grew from $300 for Black single men overall to a still-low $500 for single Black fathers overall.

Educational Achievement

The majority of Blacks, Hispanics, Native Americans and Whites over the age of 25 are not college graduates. Although there are overall gradual increases in college attainment for all groups, there are still significant disparities. Across the board, women tend to have higher levels of educational attainment despite generally having lower socioeconomic indicators. In the 2015-2016 academic year, White women received 60% of associate’s degrees and 56% of bachelor’s degrees. For Black, Hispanic, and Native American groups, there is a greater disparity in educational achievement between men and women. In the Black community, 67% of associate’s degrees and 64% of bachelor’s degrees were awarded to women. 62% of associate’s degrees and 64% of bachelor’s degrees were awarded to women within the Hispanic community. Similarly, Native American women earned 65% of associate’s degrees and 61% of bachelor’s degrees. Lastly, Asian Americans saw the least gender disparity among the major racial and ethnic groups, where 56% of associate’s degrees and 54% of bachelor’s degrees were awarded to Asian women.

Dedrick Asante-Muhammad is the Chief of Membership, Policy and Equity at NCRC.
Esha Kamra is a former NCRC Membership, Policy, and Equity intern.
Connor Sanchez is an NCRC Membership, Policy and Equity Intern

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Dedrick Asante-Muhammad, Esha Kamra, Connor Sanchez

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Racial Wealth Snapshot: Women, Men, and Racial Wealth Divide " NCRC

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Current U.S. Inflation Rates (2000-2025)

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Current U.S. Inflation Rates (2000-2025)

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This graph highlights inflation spikes post-2020 showing how rising prices erode purchasing power. The significance lies in its real world implications for lower income households who spend more on essentials. This graph was selected for its reverence, its underscores how macroeconomic trends disproportionately affect the working class.

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US Inflation Calculator | Easily calculate how the buying power of the U.S. dollar has changed from 1913 to 2023. Get inflation rates and U.S. inflation news.

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The annual inflation rate for the United States was 3.2% for the 12 months ended October, compared to 3.7% previously, according to U.S. Labor Department data published on Nov. 14, 2023. The next update on inflation is scheduled for release on Dec. 12 at 8:30 a.m. ET. It will provide information on the rate of inflation for the 12 months ended November 2023.

Below is a chart and table displaying annual US inflation rates for calendar years from 2000 and 2013 to 2023. For inflation rates in prior years, please refer to historical inflation rates. If you would like to calculate the accumulated rates between two different dates, you can use the US Inflation Calculator.

*The latest inflation data (12-month based) is always displayed in the chart's final column.
Table: Annual Inflation Rates
To find annual inflation rates for a calendar year, look to the December column. For instance, the inflation rate in 2022 was 6.5%. Meanwhile, the "Ave" column shows the average inflation rate for each year using CPI data. In 2022, the average inflation rate was 8.0%. These average rates are published by the BLS but are rarely discussed in the news media, taking a back seat to the actual rate of inflation for a given calendar year.
*Data Source: U.S. Bureau of Labor Statistics: All items in U.S. city average, all urban consumers, not seasonally adjusted. Calculating Annual Inflation Rates
Annual rates of inflation are calculated using 12-month selections of the Consumer Price Index (CPI) which is published monthly by the Labor Department's Bureau of Labor Statistics ( BLS).

To calculate the inflation rate for a specific month, such as January 2017, subtract the CPI for that month of the previous year (in this case, January 2016) from the current CPI (January 2017). The result is the difference between the two CPIs. Divide this number by the CPI for the previous year, then multiply by 100 and add a percentage sign to obtain the inflation rate for the given month.

For example, to calculate the inflation rate for January 2017, subtract the January 2016 CPI of 236.916 from the January 2017 CPI of 242.839, which yields 5.923. Divide 5.923 by 236.916, multiply by 100, and add a % sign to obtain an inflation rate of 2.5% for January 2017.
Chart: Monthly Inflation Rates and Annual Inflation Rates in the United States
The following chart displays both the monthly inflation rates alongside the 12-month inflation rates since January 2013. The latter rates are the same as above and are not seasonally adjusted, while the former are seasonally adjusted. Both of these rates are headline figures in monthly Labor Department reports on consumer prices and inflation. For further details on the differences between seasonally adjusted and unadjusted data, please refer to " Seasonally Adjusted and Unadjusted Data."
Table: 1-Month and 12-Month Inflation Rates (2013-2023)
To present the data in a different format, the following table displays the same information as above.

1-Month Data Sources: U.S. Bureau of Labor Statistics: All items in U.S. city average, all urban consumers, seasonally adjusted.
12-Month Data Sources: U.S. Bureau of Labor Statistics: All items in U.S. city average, all urban consumers, not seasonally adjusted.

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The annual inflation rate for the United States was 3.2% for the 12 months ended October, compared to 3.7% previously, according to U.S. Labor Department data published on Nov. 14, 2023. The next update on inflation is scheduled for release on Dec. 12 at 8:30 a.m. ET.

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Oxfam International - Economic Inequality

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Oxfam International - Economic Inequality

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This website advocates for global economic justice highlighting the disproportionate accumulation of wealth among the richest individuals. Its audience are policymakers, activists, and the general public concerned with global inequality. Oxfam's reports, such as the one revealing that the ten richest men doubled the fortunes during the pandemic while 99% of humanity's income fell, underscore the extreme concentration of wealth and its implications for global poverty and inequality.

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economic inequality | Oxfam International

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We collect analytics data in order to understand site usage. This data is collected anonymously and is not associated to you personally. Decide what you want to share with us below.

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Economic Policy Institute (EPI) - Economic Inequality Research

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Economic Policy Institute (EPI) - Economic Inequality Research

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This website provides data-driven analyses on wage trends, labor markets, and economic policies affecting inequality. Its audience reaches researchers, policymakers, and labor advocates. EPI's research, including findings that top 1% wages have increased by 182% since 1979 while bottom 90% wages grew only 44% highlights systematic wage disparities and informs debates on labor rights and economic policies.

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The federal minimum wage is officially a poverty wage in 2025

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In 2025, the federal minimum wage is officially a “poverty wage.” The annual earnings of a single adult working full-time, year-round at $7.25 an hour now fall below the poverty threshold of $15,650 (established by the Department of Health and Human Services guidelines). The limitations of how the federal government calculates poverty understate how far…

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Inequality.org - Institute for Policy Studies

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Inequality.org - Institute for Policy Studies

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This website serves as a portal for information and analysis on income and wealth inequality, promoting policy solutions. Its audience captures academics, activists, and the informed public. By examining topics like tax justice and the racial wealth divide, inequality.org connects economic data to boarder social justice issues that emphasizes the multifaceted nature of inequality.

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Your online portal to data, analysis, and commentary on income and wealth inequality.

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Pew Research Center - Trends in Income and Wealth Inequality

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Pew Research Center - Trends in Income and Wealth Inequality

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The website offers nonpartisan research on social and economic trends, including income and wealth disparities. The audience are policy makers, scholars, and the general public. Pews' analyses, such as the observation that economic inequality continues to widen, provide empirical evidence of long term trends affecting social mobility and class structures.

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Barely 10 years past the end of the Great Recession in 2009, the U.S. economy is doing well on several fronts. The labor market is on a job-creating streak that has rung up more than 110 months straight of employment growth, a record for the post-World War II era. The unemployment rate in November 2019 was 3.5%, a level not seen since the 1960s. Gains on the jobs front are also reflected in household incomes, which have rebounded in recent years.

But not all economic indicators appear promising. Household incomes have grown only modestly in this century, and household wealth has not returned to its pre-recession level. Economic inequality, whether measured through the gaps in income or wealth between richer and poorer households, continues to widen.

Household incomes are growing again after a lengthy period of stagnation

With periodic interruptions due to business cycle peaks and troughs, the incomes of American households overall have trended up since 1970. In 2018, the median income of U.S. households stood at $74,600. This was 49% higher than its level in 1970, when the median income was $50,200. (Incomes are expressed in 2018 dollars.)

But the overall trend masks two distinct episodes in the evolution of household incomes (the first lasting from 1970 to 2000 and the second from 2000 to 2018) and in how the gains were distributed.

Most of the increase in household income was achieved in the period from 1970 to 2000. In these three decades, the median income increased by 41%, to $70,800, at an annual average rate of 1.2%. From 2000 to 2018, the growth in household income slowed to an annual average rate of only 0.3%. If there had been no such slowdown and incomes had continued to increase in this century at the same rate as from 1970 to 2000, the current median U.S. household income would be about $87,000, considerably higher than its actual level of $74,600.

The shortfall in household income is attributable in part to two recessions since 2000. The first recession, lasting from March 2001 to November 2001, was relatively short-lived. Yet household incomes were slow to recover from the 2001 recession and it was not until 2007 that the median income was restored to about its level in 2000.

But 2007 also marked the onset of the Great Recession, and that delivered another blow to household incomes. This time it took until 2015 for incomes to approach their pre-recession level. Indeed, the median household income in 2015 - $70,200 - was no higher than its level in 2000, marking a 15-year period of stagnation, an episode of unprecedented duration in the past five decades.

More recent trends in household income suggest that the effects of the Great Recession may finally be in the past. From 2015 to 2018, the median U.S. household income increased from $70,200 to $74,600, at an annual average rate of 2.1%. This is substantially greater than the average rate of growth from 1970 to 2000 and more in line with the economic expansion in the 1980s and the dot-com bubble era of the late 1990s.

Upper-income households have seen more rapid growth in income in recent decades

The growth in income in recent decades has tilted to upper-income households. At the same time, the U.S. middle class, which once comprised the clear majority of Americans, is shrinking. Thus, a greater share of the nation's aggregate income is now going to upper-income households and the share going to middle- and lower-income households is falling.

The share of American adults who live in middle-income households has decreased from 61% in 1971 to 51% in 2019. This downsizing has proceeded slowly but surely since 1971, with each decade thereafter typically ending with a smaller share of adults living in middle-income households than at the beginning of the decade.

The decline in the middle-class share is not a total sign of regression. From 1971 to 2019, the share of adults in the upper-income tier increased from 14% to 20%. Meanwhile, the share in the lower-income tier increased from 25% to 29%. On balance, there was more movement up the income ladder than down the income ladder.

But middle-class incomes have not grown at the rate of upper-tier incomes. From 1970 to 2018, the median middle-class income increased from $58,100 to $86,600, a gain of 49%. This was considerably less than the 64% increase for upper-income households, whose median income increased from $126,100 in 1970 to $207,400 in 2018. Households in the lower-income tier experienced a gain of 43%, from $20,000 in 1970 to $28,700 in 2018. (Incomes are expressed in 2018 dollars.)

More tepid growth in the income of middle-class households and the reduction in the share of households in the middle-income tier led to a steep fall in the share of U.S. aggregate income held by the middle class. From 1970 to 2018, the share of aggregate income going to middle-class households fell from 62% to 43%. Over the same period, the share held by upper-income households increased from 29% to 48%. The share flowing to lower-income households inched down from 10% in 1970 to 9% in 2018.

These trends in income reflect the growth in economic inequality overall in the U.S. in the decades since 1980.

Income growth has been most rapid for the top 5% of families

Even among higher-income families, the growth in income has favored those at the top. Since 1980, incomes have increased faster for the most affluent families - those in the top 5% - than for families in the income strata below them. This disparity in outcomes is less pronounced in the wake of the Great Recession but shows no signs of reversing.

From 1981 to 1990, the change in mean family income ranged from a loss of 0.1% annually for families in the lowest quintile (the bottom 20% of earners) to a gain of 2.1% annually for families in the highest quintile (the top 20%). The top 5% of families, who are part of the highest quintile, fared even better - their income increased at the rate of 3.2% annually from 1981 to 1990. Thus, the 1980s marked the beginning of a long and steady rise in income inequality.

A similar pattern prevailed in the 1990s, with even sharper growth in income at the top. From 1991 to 2000, the mean income of the top 5% of families grew at an annual average rate of 4.1%, compared with 2.7% for families in the highest quintile overall, and about 1% or barely more for other families.

The period from 2001 to 2010 is unique in the post-WWII era. Families in all strata experienced a loss in income in this decade, with those in the poorer strata experiencing more pronounced losses. The pattern in income growth from 2011 to 2018 is more balanced than the previous three decades, with gains more broadly shared across poorer and better-off families. Nonetheless, income growth remains tilted to the top, with families in the top 5% experiencing greater gains than other families since 2011.

The wealth of American families is currently no higher than its level two decades ago

Other than income, the wealth of a family is a key indicator of its financial security. Wealth, or net worth, is the value of assets owned by a family, such as a home or a savings account, minus outstanding debt, such as a mortgage or student loan. Accumulated over time, wealth is a source of retirement income, protects against short-term economic shocks, and provides security and social status for future generations.

The period from the mid-1990s to the mid-2000s was beneficial for the wealth portfolios of American families overall. Housing prices more than doubled in this period, and stock values tripled. As a result, the median net worth of American families climbed from $94,700 in 1995 to $146,600 in 2007, a gain of 55%. (Figures are expressed in 2018 dollars.)

But the run up in housing prices proved to be a bubble that burst in 2006. Home prices plunged starting in 2006, triggering the Great Recession in 2007 and dragging stock prices into a steep fall as well. Consequently, the median net worth of families fell to $87,800 by 2013, a loss of 40% from the peak in 2007. As of 2016, the latest year for which data are available, the typical American family had a net worth of $101,800, still less than what it held in 1998.

The wealth divide among upper-income families and middle- and lower-income families is sharp and rising

The wealth gap among upper-income families and middle- and lower-income families is sharper than the income gap and is growing more rapidly.

The period from 1983 to 2001 was relatively prosperous for families in all income tiers, but one of rising inequality. The median wealth of middle-income families increased from $102,000 in 1983 to $144,600 in 2001, a gain of 42%. The net worth of lower-income families increased from $12,3oo in 1983 to $20,600 in 2001, up 67%. Even so, the gains for both lower- and middle-income families were outdistanced by upper-income families, whose median wealth increased by 85% over the same period, from $344,100 in 1983 to $636,000 in 2001. (Figures are expressed in 2018 dollars.)

The wealth gap between upper-income and lower- and middle-income families has grown wider this century. Upper-income families were the only income tier able to build on their wealth from 2001 to 2016, adding 33% at the median. On the other hand, middle-income families saw their median net worth shrink by 20% and lower-income families experienced a loss of 45%. As of 2016, upper-income families had 7.4 times as much wealth as middle-income families and 75 times as much wealth as lower-income families. These ratios are up from 3.4 and 28 in 1983, respectively.

The reason for this is that middle-income families are more dependent on home equity as a source of wealth than upper-income families, and the bursting of the housing bubble in 2006 had more of an impact on their net worth. Upper-income families, who derive a larger share of their wealth from financial market assets and business equity, were in a better position to benefit from a relatively quick recovery in the stock market once the recession ended.

As with the distribution of aggregate income, the share of U.S. aggregate wealth held by upper-income families is on the rise. From 1983 to 2016, the share of aggregate wealth going to upper-income families increased from 60% to 79%. Meanwhile, the share held by middle-income families has been cut nearly in half, falling from 32% to 17%. Lower-income families had only 4% of aggregate wealth in 2016, down from 7% in 1983.

The richest are getting richer faster

The richest families in the U.S. have experienced greater gains in wealth than other families in recent decades, a trend that reinforces the growing concentration of financial resources at the top.

The tilt to the top was most acute in the period from 1998 to 2007. In that period, the median net worth of the richest 5% of U.S. families increased from $2.5 million to $4.6 million, a gain of 88%.

This was nearly double the 45% increase in the wealth of the top 20% of families overall, a group that includes the richest 5%. Meanwhile, the net worth of families in the second quintile, one tier above the poorest 20%, increased by only 16%, from $27,700 in 1998 to $32,100 in 2007. (Figures are expressed in 2018 dollars.)

The wealthiest families are also the only ones to have experienced gains in wealth in the years after the start of the Great Recession in 2007. From 2007 to 2016, the median net worth of the richest 20% increased 13%, to $1.2 million. For the top 5%, it increased by 4%, to $4.8 million. In contrast, the net worth of families in lower tiers of wealth decreased by at least 20% from 2007 to 2016. The greatest loss - 39% - was experienced by the families in the second quintile of wealth, whose wealth fell from $32,100 in 2007 to $19,500 in 2016.

As a result, the wealth gap between America's richest and poorer families more than doubled from 1989 to 2016. In 1989, the richest 5% of families had 114 times as much wealth as families in the second quintile, $2.3 million compared with $20,300. By 2016, this ratio had increased to 248, a much sharper rise than the widening gap in income.

Income inequality in the U.S has increased since 1980 and is greater than in peer countries

Income inequality may be measured in a number of ways, but no matter the measure, economic inequality in the U.S. is seen to be on the rise.

One widely used measure - the 90/10 ratio - takes the ratio of the income needed to rank among the top 10% of earners in the U.S. (the 90th percentile) to the income at the threshold of the bottom 10% of earners (the 10th percentile). In 1980, the 90/10 ratio in the U.S. stood at 9.1, meaning that households at the top had incomes about nine times the incomes of households at the bottom. The ratio increased in every decade since 1980, reaching 12.6 in 2018, an increase of 39%.

Not only is income inequality rising in the U.S., it is higher than in other advanced economies. Comparisons of income inequality across countries are often based on the Gini coefficient, another commonly used measure of inequality. Ranging from 0 to 1, or from perfect equality to complete inequality, the Gini coefficient in the U.S. stood at 0.434 in 2017, according to the Organization for Economic Cooperation and Development (OECD). This was higher than in any other of the G-7 countries, in which the Gini ranged from 0.326 in France to 0.392 in the UK, and inching closer to the level of inequality observed in India (0.495). More globally, the Gini coefficient of inequality ranges from lows of about 0.25 in Eastern European countries to highs in the range of 0.5 to 0.6 in countries in southern Africa, according to World Bank estimates.

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1. Trends in income and wealth inequality

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Barely 10 years past the end of the Great Recession in 2009, the U.S. economy is doing well on several fronts. The labor market is on a job-creating

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Brookings Institute - Rising Inequality 

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Brookings Institute - Rising Inequality 

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Their website conducts in depth research on economic issues, including the causes and the consequences of income inequality. Their targeted audience are policymakers, economists, and though leaders. Brooking's works, highlighting the rise in income inequality in the U.S. over the past four decades, informs policy discussions on economic reform and social equity.

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Rising inequality: A major issue of our time | Brookings

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Zia Qureshi discusses the recent trend of rising inter- and intra-country inequality and what policies could help mitigate it.

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U.S. Census Bureau - Income in the United States: 2023

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U.S. Census Bureau - Income in the United States: 2023

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This website provides official statistics on income, poverty and health insurance coverage in the U.S. Its audience targets researchers, policymakers and the public. The census Bureau's data, such as the 2023 report showing income showing growth income across various percentiles, offers a factual bases for examining economic policies.

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This report presents estimates on income, earnings, and inequality in the United States for calendar year 2023, based on information collected in the 2024 and earlier Current Population Survey Annual Social and Economic Supplements (CPS ASEC) conducted by the Census Bureau.

The income estimates in the main sections of this report are based on the concept of money income, which is pretax and does not account for the value of in-kind transfers. Appendix A provides a detailed explanation of how income is measured using the CPS ASEC. Estimates of post-tax income and inequality are included in Appendix B.

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This report presents data on income, earnings, & income inequality in the United States based on information collected in the 2024 and earlier CPS ASEC.

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Bureau of Labor Statistics (BLS) - Wage Data by Area and Occupation 

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Bureau of Labor Statistics (BLS) - Wage Data by Area and Occupation 

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This website collects and disseminates data on employment, wages, and labor market conditions. Their audience is meant for economists, policymakers, and job seekers. The BLS wage data, detailing earnings across occupations and regions, is crucial for understanding labor market dynamics and identifying wage disparities contributing to economic inequality.

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Overview of BLS Wage Data by Area and Occupation : U.S. Bureau of Labor Statistics

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Overview of BLS Wage Data by Area and Occupation

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This website is an investigative journalism exposing how ultra-wealthy minimize tax liabilities. The audience is the general public, policymakers, and advocates for tax reform. ProPublica's revelations about billionaires paying minimal income tax despite massive wealth gains highlight the systematic issues in tax policy that exacerbate wealth inequality.

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A massive trove of tax information obtained by ProPublica, covering thousands of America’s wealthiest individuals, reveals what’s inside the billionaires’ bag of tricks for minimizing their personal tax bills — sometimes to nothing.

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The Guardian - Income Inequality Coverage 

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The Guardian - Income Inequality Coverage 

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Reports on global and national issues related to income and wealth disparities. Its audience is general readership interested in social justice and economic issues. The Guardian's coverage includes analyses of how economic inequality leads to social unrest and provides context on the societal impacts of wealth disparities.

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Latest news, sport, business, comment, analysis and reviews from the Guardian, the world's leading liberal voice

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Political Cartoon: “The Top 1% Controls 46% of the World’s Wealth”

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Political Cartoon: “The Top 1% Controls 46% of the World’s Wealth”

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A sarcastic cartoon highlighting the concentration of wealth among the top 1%, referencing Oxfam’s statistics. The cartoon succinctly critiques wealth accumulation and the disparities it creates. It serves as a visual commentary on the themes of economic inequality and the societal impacts of wealth concentration discussed in class.

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Inequality.is - Economic Policy Institute

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Inequality.is - Economic Policy Institute

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This websites educates the public on causes and consequences of income inequality through interactive tools. Its audience are students, educators, and the general public. By illustrating how policy decisions have led to wage stagnation and increased inequality, Inequalit.is fosters a deeper understanding of economic disparities and encourages informed civic engagement.

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“Protectors of Our Industries” Political Cartoon (1883)

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“Protectors of Our Industries” Political Cartoon (1883)

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An 1883 cartoon depicting wealthy businessmen sitting atop a raft supported by laborers, symbolizing exploitation.

The historical piece offers insight into past perceptions of industrial capitalism. It provides a historical perspective on labor-capital relations, enriching our understanding of the evolution of economic inequality.

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 Photograph of a Homeless Individual in Urban Setting

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 Photograph of a Homeless Individual in Urban Setting

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A black-and-white image portraying a homeless person in a city environment, emphasizing isolation and vulnerability.

The photograph evokes empathy and prompts reflection on urban poverty. It aligns with discussions on urbanization, housing insecurity, and the socio-economic factors contributing to homelessness and poverty.

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Homeless person Black and White Stock Photos & Images - Alamy

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Find the perfect homeless person black & white image. Huge collection, amazing choice, 100+ million high quality, affordable RF and RM images. No need to register, buy now!

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Digital Artwork: “Capitalism Creates Jobs & Wealth”

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Digital Artwork: “Capitalism Creates Jobs & Wealth”

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A digital illustration critiquing capitalist systems by juxtaposing wealth creation with social inequality. The artwork uses irony to challenge prevailing economic narratives. It encourages critical examination of economic structures and their role in perpetuating class divisions, a central theme in our studies.

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1945 Photograph of American Workers on Strike for a Minimum 75¢ Wage

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1945 Photograph of American Workers on Strike for a Minimum 75¢ Wage

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This historical photograph captures American workers in 1945 protesting for a minimum wage of 75 cents per hour. The image stands out as a powerful representation of labor activism during a pivotal era in U.S. history. It underscores the ongoing struggle for fair wages and labor rights, highlighting the roots of economic disparity and the importance of collective action in addressing social class issues.

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Migrants Reaching Through Border Wall for Aid (May 12, 2023)

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Migrants Reaching Through Border Wall for Aid (May 12, 2023)

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This photograph captures migrants reaching through the bars of the U.S.-Mexico border wall in San Diego, California, to receive clothing from volunteers. The scene unfolded as hundreds of migrants waited between two border walls, many for days, seeking to apply for asylum. The image is part of a series that won the 2024 Pulitzer Prize for Feature Photography, highlighting the human aspect of migration crises. The image illustrates the desperation and vulnerability of migrants caught in limbo, neither fully in Mexico nor the United States. The outstretched hands symbolize a plea for assistance and humanity, transcending political and geographical boundaries This photograph can be applied to themes of economic disparity and social marginalization. It underscores the systemic challenges faced by migrants, including inadequate access to basic necessities and the bureaucratic hurdles in seeking asylum. The image serves as a visual testament to the broader issues of wealth inequality and the human cost of restrictive immigration policies.

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Aerial Photograph Showing Wealth Disparity in Johannesburg

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Aerial Photograph Showing Wealth Disparity in Johannesburg

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An aerial image depicting affluent neighborhoods with green lawns adjacent to impoverished areas with tin shacks in Johannesburg, South Africa. The stark visual contrast effectively illustrates the physical manifestation of economic inequality. This image exemplifies how urban planning and socio-economic policies can lead to pronounced spatial divisions, reinforcing systemic class disparities.

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Photograph of a Homeless Individual Holding a Sign Seeking Kindness

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Photograph of a Homeless Individual Holding a Sign Seeking Kindness

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An image of a homeless person holding a cardboard sign that reads “Seeking Human Kindness.” The photograph humanizes the issue of homelessness, emphasizing personal dignity amidst hardship. It brings attention to the lived experiences of those affected by poverty, aligning with discussions on social safety nets and economic marginalization.

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7. Photograph from the Everett Massacre Collection (1916)

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7. Photograph from the Everett Massacre Collection (1916)

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An image capturing the 1916 labor confrontation known as the Everett Massacre, involving striking workers and law enforcement. The photograph documents a significant event in labor history, highlighting the risks faced by workers advocating for rights. It exemplifies the tensions between labor movements and institutional power, pertinent to our exploration of class struggles.

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Photograph from the Everett Massacre Collection (1916)

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Homeless Encampments Return to Venice Beach (July 2024)

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Homeless Encampments Return to Venice Beach (July 2024)

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This image shows the reemergence of homeless encampments along the Venice Beach boardwalk, nearly a year after a significant cleanup effort. Dozens of tents have returned, indicating the transient nature of such interventions and the persistent lack of affordable housing options. The photograph captures the cyclical pattern of homelessness in urban areas, where temporary measures fail to provide lasting solutions. It serves as a visual testament to the resilience of the unhoused community amid systemic neglect. This scenario highlights the complexities of economic inequality, where structural factors such as housing shortages and inadequate social services perpetuate poverty. It prompts critical analysis of policy effectiveness and the societal commitment to addressing homelessness.