Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

RESEARCH PROJECT on Class Inequality.Who has done better in the past decade during a time in which shareholder wealth more than doubled: Has it been

RESEARCH PROJECT on Class Inequality.Who has done better in the past decade during a time in which shareholder wealth more than doubled: Has it been the wealthy or have wage earners also more than doubled?

While the stock market stood around 36,000 by December 31, 2021, in 2012 it had a value starting at only around 12,600. That means wealth measured by the Dow Jones Index Value almost tripled, easily surpassing inflation because 36,000 is easily more than double 12,600 as an index measure of wealth.

In contrast, we always wonder if real wages for workers rise enough to cover inflation so easily. Even if wages rise somewhat, is it possible that workers fall behind in other ways due to inflation? Consider data since 2012. The 4th quarter 2012 median weekly wages of $771 per week, equate to a real wage measure of $333 in 1984 prices. Follow the links below and then consider median wage data for 2021 from "BLS" charted with nominal and real measures to make your argument. Again, who has done better?

https://www.bls.gov/news.release/wkyeng.t01.htm

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Economics Of Inequality

Authors: Thomas Piketty, Arthur Goldhammer

1st Edition

0674504801, 9780674504806

More Books

Students also viewed these Economics questions

Question

Who will receive the final evaluation?

Answered: 1 week ago