How Market Power Worsens Income Inequality

Inequality in stock ownership has grown considerably over the past two decades and is far more pronounced than inequality in consumption or income. A new study charts how this is exacerbated by excess market power.     For over a century, the idea of the United States as a “nation of shareholders” has been a powerful one. This notion has its roots in attempts by the New York Stock Exchange to broaden its political base by ensuring that more Americans owned at least a handful of stocks, and Cold War comparisons of the United States as a shareholding democracy with … Continue reading How Market Power Worsens Income Inequality