US Wealth Gap Widens Where Cities Have Affluence
|February 24, 2014||Posted by Staff under Inequality / Concentration|
This 2014 excerpt of the AP, Feb 20, is by Josh Boak.
The gap between the wealthy and the poor is most extreme in several of the United States’ most prosperous and largest cities. The economic divides in Atlanta, San Francisco, Washington, New York, Chicago, and Los Angeles are significantly greater than the national average.
Many sources of both economic growth and income inequality have co-existed near each other for the past 35 years.
There’s something of a relationship between economic success and inequality.
Ed. Notes: Why’d Henry George even bother to write his classic, Progress and Poverty, back in 1879, people have so thoroughly forgotten his lesson. Of course there’s a gap. It’s because Ricardo’s observation about income distribution is a natural law, and natural laws (like gravity) are not so easily violated. The only way there couldn’t be a gap would be if the value of land — which is highest in cities where income is highest — were to be recovered and shared, something any city could achieve using its powers of raising revenue and disbursing revenue. So, unequal cities, what are you waiting for? George won’t be writing a sequel.