From today's NY Times:
Thomas A. Hirschl of Cornell and I [Mark Rank of Wash U] looked at 44 years of longitudinal information regarding individuals from ages 25 to sixty to meet what percent of the American population would sense these dissimilar levels of affluence during their lives. The results were striking.
It turns out that 12 percent of the population volition discovery themselves inwards the summit 1 percent of the income distribution for at to the lowest degree ane year. What’s more, 39 percent of Americans volition pass a twelvemonth inwards the summit five percent of the income distribution, 56 percent volition discovery themselves inwards the summit 10 percent, together with a whopping 73 percent volition pass a twelvemonth inwards the summit xx percent of the income distribution....
It is clear that the icon of a static 1 together with 99 percent is largely incorrect. The bulk of Americans volition sense at to the lowest degree ane twelvemonth of affluence at to a greater extent than or less signal during their working careers. (This is only every bit truthful at the bottom of the income distribution scale, where 54 percent of Americans volition sense poverty or close poverty at to the lowest degree ane time betwixt the ages of 25 together with 60)....
Rather than talking nigh the 1 percent together with the 99 percent every bit if they were forever fixed, it would brand much to a greater extent than sense to beak nigh the fact that Americans are probable to endure exposed to both prosperity together with poverty during their lives, together with to shape our policies accordingly. As such, nosotros convey much to a greater extent than inwards mutual alongside ane to a greater extent than or less other than nosotros dare to realize.Sumber https://gregmankiw.blogspot.com/
