It’s not just Occupy Wall Street protesters that are worried about wealth and income inequality.
Now people like Bill Gross, manager of the world’s largest bond fund at Pimco, are warning that the problem is making the U.S. less productive, while star investors like Jim Chanos worry that people will have less incentive to participate in the economy if they have decided that “the game isn’t fair,” reports The Wall Street Journal’s Justin Lahart.
As noted by Société Générale strategist Albert Edwards, “you don’t have to be a communist to conclude that high levels of inequality not only adversely affects long-term growth, but also increases the economy’s vulnerability to recession.”
Despite this growing consensus, wealth and income inequality in America is still getting worse by many measures. To see what’s really happening, we encourage everyone to view our new series of charts.