In America the share of national income going to the top .01% {some 16,000 families} has risen from just over 1% in 1980 to almost 5% now-an even bigger slice than the top .01% got in the Gilded Age.9
Joseph E. Stiglitz highlights a significant increase in income concentration among the top 0.01% of families in America, rising from just over 1% of national income in 1980 to nearly 5% today. This trend signifies a return to levels of inequality not seen since the Gilded Age, indicating a growing divide between the wealthiest and the rest of society.
The rising share of income held by such a small percentage of the population raises concerns about the societal implications of inequality. Stiglitz argues that this extreme division threatens economic stability and social cohesion, ultimately endangering the future of the nation.
