Between 1979 and 2007, the richest 1% saw their income grow by 256% , while the bottom 80% grew by only 20% .
Elite interests didn't always need to pass new laws. Often, they just had to block updates to old ones—a tactic called "drift"—letting inflation and market changes erode middle-class protections like the minimum wage or labor laws. Winner-Take-All Politics: How Washington Made t...
In their book , political scientists Jacob S. Hacker and Paul Pierson present a "detective story" that investigates why American economic inequality has skyrocketed since the late 1970s. The Central Mystery: Who Stole the Middle-Class Dream? Between 1979 and 2007, the richest 1% saw
For decades, Americans were told that rising inequality was an inevitable result of —the idea that computers and globalization naturally reward the highly educated while leaving others behind. However, the authors argue that this "suspect" has an alibi. If technology were the only cause, we would see similar inequality spikes in all advanced nations, yet the U.S. remains a stark outlier. The Investigation: The "Yachts vs. Dinghies" Economy In their book , political scientists Jacob S
The "crime" wasn't committed by the market, but by . The story highlights a massive organizational shift starting around 1978: