Myths of the 1 percent: What puts people at the top? Jonathan Rothwell New York Times November 17, 2017
Almost all of the growth in top American earners has come from just three economic sectors: professional services, finance and insurance, and health care, groups that tend to benefit from regulatory barriers that shelter them from competition.
Others are noticing these trends. A new book, “The Captured Economy” by Brink Lindsey and Steven Teles, argues that regressive regulations — laws that benefit the rich — are a primary cause of the extraordinary income gains among elite professionals and financial managers in the United States and of a reduction in growth. Read full story.
Also see Understanding harmful economic systems., especially the section on obtaining income.
Caption: The Occupy Wall Street movement, Liberty Park, NYC, October 10, 2011. Being ‘too big to fail’ kept many large firms from bankruptcy, as they were bailed out of financial decisions that otherwise could have led to bankruptcy–which happened to many individuals caught in the financial crisis. Credit: Aaron Bauer