U.S. Income Inequality: It’s Worse Today Than It Was in 1774
American income inequality may be more severe today than it was
way back in 1774 — even if you factor in slavery. That stat’s
not actually as crazy (or demoralizing) as it sounds, but it
might upend some of the old wisdom about our country’s economic
heritage. The conclusion comes to us from an newly updated study
by professors Peter Lindert of the University of California -
Davis and Jeffrey Williamson of Harvard. Scraping together data
from an array of historical resources, the duo have written a
fascinating exploration of early American incomes, arguing that,
on the eve of the Revolutionary War, wealth was distributed more
evenly across the 13 colonies than anywhere else in the world
that we have record of.