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Amu Assignment One

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Calculate the percentage change in the Shares of Household Income of Quintiles between 1968 and 1998 based on the last table on the page. Notice the dates are in reverse chronological order. Why do you think it has changed in the manner it has? From 1968 to 1998 the percentage change in Shares of Household Income of Quintiles was a steady decline, with the exception of 1997. It was a .06 increase over the 30 years. Bradley Schiller states that “permanent inequality is more the exception more than the rule in the US economy”. I interpret that as saying that the rich will get richer as the poor will get poorer as we talk about the distribution of income. From 1968 to 1998 the economy and work force has changed dramatically. We are now a nation of services/technology rather than a nation of intense labor. The United States capital means allows this nation to produce more without having to dish out a lot of money to workers (lower quintiles);as hard labor is constantly reduced by technology. The United States as a nation, distributes goods throughout the world versus just our countryside, unlike the 1960’s. With such capital advantages we produce more; with less workers and appeal to more persons. This allows the owners/top business to collect more money; hence the growth of separation between the lowest quintile and the highest quintile.

What is the current level of the U.S. public debt? Who is the Concord Coalition? How do you think this debt affects economic growth? The current level of the U.S. public debt is 11,053,945,175,719.80. The Concord Coalition is a nonpartisan grass roots movement to eliminate the deficit. I believe the deficit affects our economy in the sense that it puts a serious strain on our government. A debt like this one takes from our local government to build roads, and services provided that we all take from...

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