{"id":515,"date":"2012-08-19T19:06:00","date_gmt":"2012-08-19T19:06:00","guid":{"rendered":"http:\/\/www.jamesrising.net\/blog\/?p=515"},"modified":"2012-08-19T19:06:00","modified_gmt":"2012-08-19T19:06:00","slug":"inequality-in-nyc","status":"publish","type":"post","link":"http:\/\/www.jamesrising.net\/blog\/?p=515","title":{"rendered":"Inequality in NYC"},"content":{"rendered":"<p>My Friday book is <a href=\"http:\/\/www.amazon.com\/Gotham-History-York-City-1898\/dp\/0195116348\">Gotham: A History of New York City to 1898<\/a>, and I&#8217;m currently reading about the start of the republic.  It was also the start of laissez-faire capitalism (craftsmen and bakers had it particularly hard), and the recognition of the inequality that comes with it.<\/p>\n<p>The book gave a few numbers (below) for inequality in the first 12 years of the republic.  This represent portions of <b>wealth<\/b> in NYC, not income (the poor proxy normally given).  I looked up a report of recent net worth, and the inequality is now far worse.<\/p>\n<table>\n<tr>\n<td><\/td>\n<td>Bottom Half<\/td>\n<td>Top 20%<\/td>\n<td>Top 2%<\/td>\n<\/tr>\n<tr>\n<th>1789<\/th>\n<th align=\"center\">7%<\/th>\n<th align=\"center\">75%<\/th>\n<th align=\"center\">25%<\/th>\n<\/tr>\n<tr>\n<th>1800<\/th>\n<th align=\"center\">5%<\/th>\n<th align=\"center\">80%<\/th>\n<\/tr>\n<tr>\n<th>1999<\/th>\n<th align=\"center\">.3%<\/th>\n<th align=\"center\">&gt;86%<\/th>\n<\/tr>\n<\/table>\n<p>How did half the people come to own so little?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>My Friday book is Gotham: A History of New York City to 1898, and I&#8217;m currently reading about the start of the republic. It was also the start of laissez-faire capitalism (craftsmen and bakers had it particularly hard), and the recognition of the inequality that comes with it. The book gave a few numbers (below) &hellip; <a href=\"http:\/\/www.jamesrising.net\/blog\/?p=515\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Inequality in NYC<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-515","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/www.jamesrising.net\/blog\/index.php?rest_route=\/wp\/v2\/posts\/515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.jamesrising.net\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.jamesrising.net\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.jamesrising.net\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.jamesrising.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=515"}],"version-history":[{"count":0,"href":"http:\/\/www.jamesrising.net\/blog\/index.php?rest_route=\/wp\/v2\/posts\/515\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.jamesrising.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.jamesrising.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=515"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.jamesrising.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}