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Income Inequality in America: An Analysis of Trends
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Comments/Reviews
Description: Paul Ryscavage, a noted labor economist formerly with the Bureau of the Census and Bureau of Labor Statistics, analyzes various aspects of a major contemporary economic problem: the growing inequality of income in society.
What is income inequality? How is it measured? Is the middle class really declining? How does it relate to poverty? How long has inequality been rising in the US? Have there been other periods in history when income differences were as large as they are today? What are the causes of growing income and wage inequality? The author addresses these and other conceptual issues in eight skillfully reasoned and clearly presented chapters. Concluding with an analysis and comparison of trends in wage inequality in other developed countries, he asks the final speculative question: How much more growth in inequality can our society withstand?
Selected Contents:
1. The Income Distribution: Incomes as Outcomes: Popular Impressions, One's Position in the Income Distribution, How the Income Distribution Changes, Summary
2. Concepts and Methods of Inequality: Measuring Income and Income Inequality, Data and Data Issues, Conclusion
3. Inequality in the Post-World War II Era: An Overview, 1947 to 1973: Rapid Income Growth, Stable Income Inequality, 1973-1996: Slow Income Growth, Rising Inequality, Trends in Other Indicators, Summing Up
4. Trends in Earnings and Earnings Inequality: The Changing Nature of the Labor Market, Trends in Labor Market Earnings, Growing Inequality in the Earnings Distribution, Characteristics of High Earners and Low Earners, A Final Comment
5. Suggested Causes of Growing Inequality: The Public's View and the Economists' View, Early Explanations, Relative Wage Differences, Growing Inequality Within Groups, Trade vs. Technology, From Labor Market Earnings to Household Income, No Simple Explanations
6. Inequality Before 1950: Some Economic History, Earnings and Wage Inequality, Income Inequality, Discussion
7. International Comparison: The Emerging World Economy, Measuring Inequality Across Nations, Cross-National Studies of Inequality, Closing Remarks
8. The Future: How Much More Inequality? Can the Trend Level Off? An Improved Perspective on Inequality
Appendixes: A. Inequality Measures; B. Changes in the Current Population Survey; C. Statistics
Comment(s): "It is a great luxury to have a book on income inequality written by a professional who knows where the data came from, knows what they mean, understands their significance, and does not have an axe to grind. Paul Ryscavage's Income Inequality in America is that book." -- Frank Levy, MIT
Review(s): "Far exceeding the author's objective--to present a primer on the state and causes of income inequality in the US-this work by an eminent scholar addresses in masterful fashion the many factors related to these issues in a style comprehensible to both the public and experts. Ryscavage presents not only his own prestigious studies but also summarizes and evaluates the major works of others. His study provides a strong bridge over the disconnect between economists' views and popular conceptions that ascribe income inequality to corporate greed, soaring profits, deregulation, waning power of unions, and the demise of the so-called social contract between workers and employers. Instead, the author examines relevant measures showing and causing income disparity. ... A must purchase for economic and public policy collections. All libraries." -- Choice
"The book is well-written, readily understandable, and comprehensive...Income Inequality in America does a good job of summarizing what is known, as well as what is not known, about income inequality. Perhaps most importantly, the information is presented in an apolitical, unbiased manner...It is a good resource for anyone interested in studying the issue." -- Monthly Labor Review
    
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