Economic myths

Egalitarians of all stripes, from J.Stiglitz to R.Wolff, including A. Atkinson and T.Piketty have denounced the 30 years between 1980 and 2010 as the years of shame, because inequality, whether measured by income or wealth, has increased and the richest you are, the higher is the increase A.B.Kennickell from the Fed has published curves that show that, the closer you are to the top centile of wealth distribution, the more your wealth increases.(see annex)
Results from the PSID of the (...)

Why focus on the US and not cover other countries? Because inequalities in a developed country like the US does not have much to do with those of a developing country like China where fortunes are being built or like Russia, where relations with the political powers explain most of the billionaires.
The only common point is that inequalities are growing, because the center of the table cloth (see conclusion) is raised in all countries and lifts the rest. But the reasons for the uprising (...)