Rich and Poor in America: A Reference Handbook

by Geoffrey Gilbert

Overview

This work provides a thorough overview and analysis of the increasing gap between the Americans at the top and bottom of the economic scale.

Rich and Poor in America: A Reference Handbook provides an in-depth analysis of—and possible solutions for—the growing disparity between those at the top of the economic ladder and everyone else, a disparity that has reached its highest level since the 1920s.

Expertly researched and written, Rich and Poor in America explores a wide range of explanations for the trend that undercuts the U.S.'s "Land of Opportunity" image, including heavy immigration, weakening labor unions, globalization, and technological change. Separate chapters look at the issue chronologically and from a global perspective, while biographical sketches provide fascinating portraits of some of the "winners" in our winner-take-all society, as well as leading scholars and activists working on this issue.

copywriter rewrite:

Rich and Poor in America: A Reference Handbook provides an in-depth analysis of the widening income gap in the United States—a situation where, over nearly three decades, fewer and fewer Americans have made significant financial strides while more and more have seen their real incomes remain the same or decrease.

Objective, expertly researched and clearly written, Rich and Poor in America looks at a wide range of explanations for the income gap, including heavy immigration, weakening labor unions, globalization, and technological change. Separate chapters examine the trend as it has evolved over time and from a global perspective, while biographical sketches provide fascinating portraits of some of notable successful individuals as well as leading scholars and activists working on this issue.

Product Details

ISBN-13:	9781598840568
Publisher:	Bloomsbury Academic
Publication date:	05/12/2008
Series:	Contemporary World Issues
Pages:	296
Product dimensions:	6.00(w) x 9.10(h) x 1.00(d)

About the Author

Geoffrey Gilbert, PhD, is professor of economics at Hobart and William Smith Colleges, Geneva, NY. His published works include ABC-CLIO's World Population and World Poverty.

Table of Contents

Preface     xiii
Background and History     1
A Widening Gap     3
Measuring Income Inequality     5
Wealth Inequality     7
Long-Term Trends     9
Rowboats, Yachts, and Rising Tides     11
Race, Ethnicity, and Economic Inequality     13
Income Inequality and Health     16
Income Inequality and Education     18
A Shrinking Middle Class?     21
From Rich to Poor and Poor to Rich: Mobility     23
Rich and Poor: The Political Dimension     25
Problems, Controversies, and Solutions     31
The Wage Structure and Human Capital     32
Labor Skills, Labor Demand, and Technological Change     33
International Competition     35
Immigration     37
Unions and the Wage Distribution     39
The Minimum Wage and Inequality     41
Winner Take All?     42
Family Structure and Income Distribution     44
Political Perspectives on Income Inequality     46
Education as an Income Equalizer     47
The Effectiveness of Early Interventions     48
U.S. Schools and Inequality     51
Ways to ImproveLow-SES Student Performance     53
College: Ticket to the Middle Class     55
Working on the Labor Market     57
The Living Wage as a Boost to Low Wages     58
Stronger Unions as a Means to Lift Low Wages     59
Earned Income Tax Credit     60
Limits on CEO Pay     62
Immigrant Labor Supplies     63
Taxes and Transfer Payments     65
Wealth and Estate Taxes     68
Asset-Building Policies     70
Summary     72
Worldwide Perspective     79
A World of Contrasts     79
National Rates of Income Inequality     81
Income Inequality in Latin America and Africa     83
Poverty in the Rich Countries     85
National Trends in Income Inequality     87
Income by Country: Divergence or Convergence?     90
A New Concept of Global Inequality     92
Less Inequality, Less Poverty?     94
Economic Mobility: The United States in Global Perspective     96
Top U.S. Incomes in Worldwide Perspective     98
CEO Pay and Income Inequality     99
Wealth Taxes: A (So Far) Non-American Response to Wealth Inequality     101
A Caution on Wealth Taxes     103
Chronology     107
Biographical Sketches     127
Horatio Alger Jr.     127
Anne L. Alstott     128
Warren E. Buffett     129
John Bates Clark     130
Chuck Collins     131
Marian Wright Edelman     132
John Edwards     133
Barbara Ehrenreich     134
Victor R. Fuchs     135
William H. Gates III     136
Corrado Gini     137
Hetty Green     138
Dolores Huerta     139
Jonathan Kozol     140
Simon Kuznets     141
Bhashkar Mazumder     142
Sara S. McLanahan     143
Mollie Orshansky     144
John D. Rockefeller     145
Paul G. Schervish     146
Thomas M. Shapiro     147
Michael Sherraden     148
Ronald J. Sider     149
Timothy M. Smeeding     150
Samuel Walton     151
Richard Wilkinson     151
Edward N. Wolff     152
Data and Documents     155
Inequality and the American Public: The Maxwell School Survey      171
Perceptions of Inequality Trends     171
Concerns about Inequality     173
California Kids Investment and Development Savings (KIDS) Accounts     175
Ben Bernanke on U.S. Income Inequality     179
Pay without Performance: The Great CEO Guarantee     182
Are CEOs Overpaid?     184
The Estate Tax 'Recycles' Opportunity     187
Being Profitable Is Giving Back     190
Andrew Carnegie on What to Do with a Fortune [1889]     192
Giving Back, Big Time: The Carnegie-Buffett Connection     194
Being Poor     197
Directory of Organizations     201
Selected Print and Nonprint Resources     227
Print Resources     227
Articles     227
Books     230
Nonprint Resources     247
Web Sites     247
Videos     251
Contact Information for Video Distributors and Vendors     256
Glossary     259
Index     263
About the Author     275

Editorial Reviews

It would be an excellent starting point for students and interested general readers, and it would be well suited both to public and academic library collections.” —ARBA

“In this contribution to ABC-CLIO's 'Contemporary World Issues' series, economist Gilbert (Hobart and William Smith Colleges) provides an excellent overview of income inequality . . . Highly recommended. Academic collections, lower-division undergraduate and up.” —Choice

“Recommended for academic and large public libraries.” —Reference & User Services Quarterly

“This particular volume, written by an economics professor, is a superb review of some of the key questions and data that are relevant to understanding the causes, consequences, and trends related to economic inequality. . . . Overall, this is a remarkably effective introduction to a complex set of problems. It would be an excellent starting point for students and interested general readers, and it would be well suited both to public and academic library collections.” —ARBA

From the Publisher