Land of opportunity can fight inequality
July 15, 2012
Op-ed by: Lawrence Summers, Charles W. Eliot University Professor and member of the Belfer Center Board of Directors
Topic: U.S. economy
“Even if the process proves protracted, the American economy will eventually recover. Yet even as cyclical issues cease to dominate the economic conversation, it is likely that inequality will move to the forefront.
There is no question that income is distributed substantially more unequally than it was a generation ago, with those at the very top gaining a greater share as even the upper middle class loses ground in relative terms. Those with less skill – especially men who in an earlier era would have worked with their hands – are losing ground not just in relative but also in absolute terms.”