FMSC 381 Lecture Notes - Lecture 4: Economic Mobility
27 Feb 2018
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Document Summary
Income inequality rising has been one defining characteristic of the u. s. economy over the past 50 years. Wealth net worth, including things like assets, stocks, savings. In the u. s. the wealth gap is larger than income gap. In late 1990s, the stock market boomed and median household wealth increased: early 2000s, stock market declined but home values increased, great recession led to broad losses in wealth, but richest faced smaller declines. Increased poverty rate during periods of recession: decreased poverty rate in recovery, as of 2015, poverty rate is about 13. 5, 80% of people leave poverty within 2 years but remain vulnerable. Poverty and age & gender: has been decreasing in older individuals with the expansion of social security, poverty rate for older americans fell below that for children starting in 1974 and has. In young americans, it has been increasing remained lower ever since then.
