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Inequality at the Top
From: The Age of Increasing Inequality
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The income share of Canada’s top earners has risen sharply since the 1980s, as balanced growth has been replaced by accelerated income growth for the top 1%, and relative income stagnancy for the 99%. The resulting increase in income gaps imply that advertising increasingly promotes luxury goods, and, for most people, consumption aspirations grow faster than incomes. As "keeping up" becomes more difficult, there is increasing middle class debt and decreasing satisfaction.
Contributors
Lars Osberg
LARS OSBERG is McCulloch Professor of Economics at Dalhousie University with research interests in labour economics and income and wealth distribution. He received his PhD in Economics from Yale University and has published numerous articles in academic journals and seven books. He is past President of the Canadian Economics Association. He lives in Halifax, Nova Scotia.