Martin Ravallion et al —Alongside rising top incomes, the level of living of America’s poorest has fallen

Summary:
When the poorest gain, the lower bound, or ‘floor’, of the distribution of living standards rises. Using microdata spanning the last 30 years, this column argues that the floor in the US has been sinking, alongside rising top incomes. The floor would have fallen further without public spending on food stamps, which helped protect the poorest in the wake of the 2008 financial crisis. vox.euAlongside rising top incomes, the level of living of America’s poorest has fallen Martin Ravallion, Edmond D. Villani Chair of Economics, Georgetown University; Dean Jolliffe, Lead Economist, Development Economics Data Group, World Bank; Juan Margitic, Ph.D. candidate in Economics, Georgetown University

Topics:
Mike Norman considers the following as important: distribution, inequality, US economy

This could be interesting, too:

Robert Skidelsky writes The Roots of Europe’s Immigration Problem – Project Syndicate

Robert Waldmann writes The US economy is the envy of the first world

Joel Eissenberg writes The truth about immigration

Nick Falvo writes Report finds insufficient daytime options for people experiencing homelessness