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Requiem for the American Dream: The 10 Principles of Concentration of Wealth & Power is a book by political activist and linguist Noam Chomsky. It was created and edited by Peter Hutchison, Kelly Nyks, and Jared P. Scott. It lays out Chomsky's analysis of neoliberalism.
Who Rules America? is a book by research psychologist and sociologist G. William Domhoff, Ph.D., published in 1967 as a best-seller (#12). WRA is frequently assigned as a sociology textbook, documenting the dangerous concentration of power and wealth in the American upper class . [ 1 ]
[9]: 88–100 A combination of domestic and foreign investment along with the discovery of gold and a major commitment of America's public and private wealth, enabled the nation to develop a large-scale railroad system, establishing the base for the country's industrialization.
Financial wealth is defined as "net worth minus net equity in owner-occupied housing." [30] In real money terms and not just percentage share of wealth, the wealth gap between the top 1% and the other quartiles of the population is immense. The average wealth of households in the top 1% of the population was $13.977 million in 2009.
"Wealth", [2] more commonly known as "The Gospel of Wealth", [3] is an essay written by Andrew Carnegie in June [4] of 1889 [5] that describes the responsibility of philanthropy by the new upper class of self-made rich. The article was published in the North American Review, an opinion magazine for America's
Federalist No. 69 is an essay by Alexander Hamilton, the sixty-ninth of The Federalist Papers. It was published on March 14, 1788 under the pseudonym Publius, under which all The Federalist papers were published.
Hence, wealth provides mobility and agency—the ability to act. The accumulation of wealth enables a variety of freedoms, and removes limits on life that one might otherwise face. Federal Reserve data indicates that as of Q4 2021, the top 1% of households in the United States held 30.9% of the country's wealth, while the bottom 50% held 2.6%. [7]
In 1980 the middle class earned 17% of total income in the United States. [291] [292] [293] However, by 2019 its share decreased to 14%, a drop of 3%. Another way to see this is that in 1980 the share of the middle class was the same as that of the top 5% but by 2019 the top 5% was 9 percentage points ahead of the middle class. [294] [295]