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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.
In 2022, families in America's top 10% held 60% of all wealth, up from 56% in 1989. Families in the top 1% held 23% of the nation's wealth in 1989, which has now grown to 27%.
After the Great Recession which started in 2007, the share of total wealth owned by the top 1% of the population grew from 34.6% to 37.1%, and that owned by the top 20% of Americans grew from 85% to 87.7%. The Great Recession also caused a drop of 36.1% in median household wealth but a drop of only 11.1% for the top 1%. [55] [53]
Average and median household wealth by age group. In 2007, the top 20% of the wealthiest Americans possessed 80% of all financial assets. [14] In 2007, the richest 1% of the American population owned 35% of the country's total wealth, and the next 19% owned 51%.
With the prices of goods and services rapidly rising across America, many people find it difficult to entertain the idea of building wealth. Many believe the system works against them and that only...
This, he says, has caused the wealth gap with many people barely getting by while others thrive. “It was an agrarian economy a couple hundred years ago,” he said in an interview with CNN.
The United States had been running a trade deficit, draining gold out of the country. Because of the tariff revenues, the U.S. Treasury held a considerable amount of gold, which kept it out of circulation. On September 12, the SS Central America, which was carrying $1.5 million in gold from California, sank, contributing to the panic. Secretary ...
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 ]