chapter  5
20 Pages

WEALTH: More for the Wealthy, Financial Decline and Insecurity for the Majority

The distribution of wealth is even more concentrated at the top than is the distribution of income, and it has become more uneven since 1983, despite a slight reversal in the early 1990s. For instance, over the 1983-89 recovery, the distribution of wealth became significantly more concentrated. In fact, the vast majority of the accumulated household wealth over the 1983-89 period accrued to the very richest families, while wealth among the bottom 40% of families actually fell. The consequence of this increased wealth inequality is a larger gap in overall financial security between the rich on the one hand and the middle class and the poor on the other.