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How much change has taken place through the years among the industries that have been the source of wealth for America’s richest individuals?
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What does this say about the changing nature of the economy?
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https://brainmass.com/business/business-management/changing-american-wealth-129505
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Back in 1968, the average household income for the richest one-fifth of American households was about seventy-four thousand dollars. Here’s a seventy-four thousand dollar slice of pie. In the same year, the average household income for the poorest one-fifth of American households was about one-tenth the amount for the rich, or just about seven thousand dollars. Here’s a seven thousand dollar slice of pie. By 1994, some twenty-six years later, a couple of things had changed. For one, the economy itself had grown. There was, so to speak, a bigger pie to be carved up. For another, the richest one-fifth of households had seen their average income grow in constant dollars to nearly a hundred and six thousand. One hundred and six thousand dollars. But the poorest one-fifth of American households? Well, they had seen their income grow by only a few hundred dollars, so they were still effectively at about seven thousand and change.
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