The Importance of Demographic Change in the United States

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In the U.S., there are many more single person households and fewer people working, he says. The household income of the top quintile at a point in time in recent years was 17 times higher than that of the bottom five%. Inequality fuel political anger because it could be true, Nouriel Roubini says.

Economist and author Branko Milanovic of the Graduate Center, CUNY, talks about his book, Capitalism, Alone, with EconTalk host Russ Roberts. They discuss inequality, the challenge of corruption in the Chinese system, and Milanovic's claim that in American capitalism, the texture of daily life is increasingly affected by the sharing economy and other opportunities.