![]() Instead of a rising tide lifting all boats, the authors write, "yachts are rising, but dinghies are largely staying put" in America, and "there is reason to suspect that the dinghies are staying put in part because the yachts are rising." ![]() Those at the very top of the economic ladder have developed and used political muscle to dramatically cut their taxes, deregulate the financial industry, keep corporate governance lax and labor unions hamstrung. In it the authors argue that contrary to conventional wisdom, the dramatic increase in inequality of income in the United States since 1978-the richest 1% gaining 256% after inflation while the income of the lower earning 80% grew only 20% -is not the natural/inevitable result of increased competition from globalization, but of the work of political forces. Winner-Take-All Politics: How Washington Made the Rich Richer-and Turned Its Back on the Middle Class is a book by political scientists Jacob S.
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