Jun 02, 2011 | By Page May
We know there is a wealth gap, but how did it come to be? Is it natural? Inevitable?
No! The wealth gap certainly has a complicated history, but there are specific policies and practices that have contributed to its growth.
We believe the more we know about how we got here, the better we can identify ways to move forward. Based on our research of the wealth gap's history, we are releasing a series of informational sheets highlighting several factors that have increased inequality. Within each paper are the important dates, trends, and data about one instigator of the wealth gap. This information will also later made available on an interactive timeline.
The first of these papers discusses the rise of credit and household debt:
Despite increasing worker productivity, families’ incomes have stagnated since the late 1970s. Credit not only masks the bottom 90%’s relative lack of wealth, it also provides a means for bankers to generate huge profits- both of which have enabled and increased the wealth gap.
To learn more, download this educational resource here.