Abstract
During the past several decades, the United States has experienced its most sustained rise in inequality since the nineteenth century. The U.S. distribution of income and wealth is now wider than in most other advanced countries. To provide a factual basis for further discussion, this paper reviews trends in income and wealth inequality over the past several decades, and then discusses four significant sources of economic opportunity in the United States: the resources available for children in their most formative years, affordable higher education, private business ownership, and inheritances.
- Copyright © 2016 by Russell Sage Foundation. All rights reserved. Printed in the United States of America. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Reproduction by the United States Government in whole or in part is permitted for any purpose. This article was presented as the keynote address at the fifty-eighth economic conference at the Federal Reserve Bank of Boston on October 17, 2014. Direct correspondence to: Janet L. Yellen at 20th Street and Constitution Ave. NW, Washington, D.C. 20551.
Open Access Policy: RSF: The Russell Sage Foundation Journal of the Social Sciences is an open access journal. This article is published under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
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