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The path of US inequality rests on political progress

Wednesday, June 16, 2021

Significance

Burgeoning international trade and skill-biased technological change has raised the fortunes of university graduates while lowering the prospects of those with less education. President Joe Biden's administration is seeking to address many of the areas that have been identified as underlying sources of inequality.

Impacts

  • Vicious cycles of poor health, education and declining personal finances have created a group of society with reactionary political views.
  • Populist politicians benefited from a generation of lost economic prospects, but state intervention and redistribution are winning support.
  • Rising numbers of very rich people backed policies to raise their own wealth, and the wealthy continue to influence the political process.

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