Economists Clearly Reveal That Both the Income and Wealth Gaps

Essay

Economists clearly reveal that both the income and wealth gaps in the United States are widening substantially. What is the difference between income and wealth? Can an individual have high income but little wealth? Which households tend to be at the bottom of the income and wealth gaps, and which households are at the top? What are some of the reasons for the income and wealth disparities that exist in the United States today? Why are the U.S. income and wealth gaps widening despite increased globalization and access to educational opportunities? How do one's income and wealth affect his or her social mobility? What other systems of social stratification affect an individual's income and wealth and in what ways? How does Pem Davidson Buck's work with poor white people in rural Kentucky reflect how income and wealth are affected by other forms of social stratification?