More or Less Has there been a $50 trillion wealth transfer to the richest Americans?
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Nov 15, 2025 AI Snips
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Counterfactual GDP-Wage Comparison
- Carter Price models the gap by comparing actual bottom-90% pay to a counterfactual where wages grew with GDP as in 1945–75.
- Summing yearly gaps yields the $50tn–$80tn cumulative shortfall figure across decades.
Inequality Growth Began Mid-1970s
- The top 1% and 0.1% pulled away from the rest beginning in the mid-1970s and the yearly gap now exceeds $3–4tn.
- The $50tn (older) and $80tn (newer) figures are totals of those annual shortfalls summed over time.
Trillions Represent Foregone Income
- The reported trillions represent foregone income for the bottom 90% relative to the counterfactual.
- That shortfall is like accumulated wealth in effect, but it is distinct from measured wealth.