Is higher inequality the price America pays for faster growth? (America ranks as the most unequal big rich-world country)

Think about income inequality in America and some archetypes easily come to mind. Start with a rich corporate lawyer, earning above the roughly $1m annual income (before taxes and transfers) that places a household in the top 1% of earners. At the other end of the scale, in the bottom 20%, a single mother with a fast-food job might have an income of $25,000. Between them, a home with a mechanic and a part-time teaching assistant might have annual earnings of $80,000, around the median.

https://www.economist.com/special-report/2024/10/14/is-higher-inequality-the-price-america-pays-for-faster-growth

https://archive.is/Fqorh#selection-1075.0-1161.1

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