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Don Bauder, SAN DIEGO READER
Wednesday, October 26, 2011
W. Erik Bruvold, president of the National University System Institute for Policy Research, concedes that “Over the last 20 years, the upper 10 to 20 percent has seen almost all the income gains.” (Nobel laureate Joseph Stiglitz points out that the richest 1 percent owns 40 percent of the nation’s wealth.)
But Bruvold says there are flaws in the Gini coefficient. For example, the nation is growing older, and as people go into retirement, income decreases. “That may be another reason for the inequality,” he says. “I would say the growth in tech and the aging of the population contribute to the increase in inequality in the Western democracies,” including San Diego.
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