Consider the graph in the LMS of the Distribution of Wealth in the US from 1989 to the present. What general conclusion do you draw from the graph? What specific changes occurred in the share of Total Net Worth held by the Top 1% (the very wealthiest Americans)? What specific changes occurred in the share of Total Net Worth held by the 50^th to 90^th wealth percentiles (roughly, Americans in the middle to upper-middle classes)? What specific changes occurred in the share of Total Net Worth held by the bottom 50% (the half of Americans with the least wealth)?

Answer rating: 100% (QA)

Top 1 wealth share 1 In 1989 the top 1 held around 30 of total net worth 2 By around 2007 their shar... View the full answer