2021-11-19T12:39:27+00:00

Unequal distribution of wealth in America

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Unequal distribution of wealth in America

Sociologist G. William Domhoff of the University of California at Santa Cruz has published an article titled "Wealth, Income, and Power"
http://sociology.ucsc.edu/whorulesamerica/power/wealth.html

The article discusses several important statistics on the distribution of wealth in the United States. Some of the key findings included in Professor Domhoff`s piece are as follows:

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The top 1% of American households own 34.6% of all privately held wealth, up from 33.8% in 1983

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The bottom 80% of American household own only 15.0% of all privately held wealth, down from 18.0% in 1983

ââ?¬¢ Control of financial wealth is slightly more polarized -- the top 1% own 42% of all privately held wealth, while the bottom 80% own a mere 7.0%

After reading Domhoff`s data and analysis answer the following questions:

Why do Americans in a democracy tolerate such massive inequality which has been growing steadily over the past 30 years?
What is the upside/downside to such concentrated wealth?
What is the relationship between wealth and power?


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