From a Yahoo Finance morning brief Saturday column by Andy Serwer (not Adam) about inequality as it relates to geography, (in addition to other aspects of inequality):
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“During the 100 years prior to 1980, MacGillis writes, “poorer parts of the country had been catching up with richer ones. In 1980, virtually every area of the country had mean incomes that were within 10% of the national average … But by 2013, virtually the entire Northeast Corridor from Boston to Washington and the Northern California coast had incomes more than 20% above average. Most startlingly; a huge swath of the country’s interior had incomes more than 20% below average—not only the rural South and Southwest but much of the Midwest and Great Plains as well.”
.
Did something happen in 1980 that set off the ever increasing income inequality since then?
From a Yahoo Finance morning brief Saturday column by Andy Serwer (not Adam) about inequality as it relates to geography, (in addition to other aspects of inequality):
===
“During the 100 years prior to 1980, MacGillis writes, “poorer parts of the country had been catching up with richer ones. In 1980, virtually every area of the country had mean incomes that were within 10% of the national average … But by 2013, virtually the entire Northeast Corridor from Boston to Washington and the Northern California coast had incomes more than 20% above average. Most startlingly; a huge swath of the country’s interior had incomes more than 20% below average—not only the rural South and Southwest but much of the Midwest and Great Plains as well.”
.
Did something happen in 1980 that set off the ever increasing income inequality since then?
(Do I hear Laffer from the audience?)