The Cyclic Aspects of Inequality

Income inequality has increased steadily over the last 40 years. In most advanced economies and majority of emerging markets, share of incomes that go to 10% richest in population has increased. New book shows this increase is very persistent after recessions. As people go back to jobs and find jobs again, it is a feature of the data that the scars that you leave in terms of income inequality are not going away after Recessions.