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Narayana Kocherlakota – The Rich Are Different, and It Matters

Inequality in the U.S. depends on how you look at it: Some groups of rich¬†households, for example, have fared much differently than others. Such nuances are crucial in understanding the phenomenon — and what policy makers should do about it. Let’s start by focusing on the income of the top 1¬†percent of Americans, compared to that of the top 10 …