Sunday, August 30, 2009

Wobbly Times number 20


Table 3: Share of wealth held by the Bottom 99% and Top 1% in the United States, 1922-2004.
Bottom 99 percent Top 1 percent
1922 63.3% 36.7%
1929 55.8% 44.2%
1933 66.7% 33.3%
1939 63.6% 36.4%
1945 70.2% 29.8%
1949 72.9% 27.1%
1953 68.8% 31.2%
1962 68.2% 31.8%
1965 65.6% 34.4%
1969 68.9% 31.1%
1972 70.9% 29.1%
1976 80.1% 19.9%
1979 79.5% 20.5%
1981 75.2% 24.8%
1983 69.1% 30.9%
1986 68.1% 31.9%
1989 64.3% 35.7%
1992 62.8% 37.2%
1995 61.5% 38.5%
1998 61.9% 38.1%
2001 66.6% 33.4%
2004 65.7% 34.3%

Sources: 1922-1989 data from Wolff (1996). 1992-2004 data from Wolff (2007).
Even though the USA has a democratic political system, the people who have the most wealth, also have greater power to express their political wills. Are the major stock, bond, and non-residential real estate barons running your nation?

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