Think back to the antebellum South, in 1850.
The census of that year shows that, of roughly 660,000 households in the southern states, the 1,000 leading households of the plantation elite received about $50 million in annual income.
The rest of the population earned only about $60 million annually.
Can you say “inequality”?
Any part of this sound familiar?
Howard Zinn, A People’s History of the United States, 1492-Present (1980; repr., New York: Harper Perennial Modern Classics, 2005), 236.
Copyright © Richard Carl Subber 2014 All rights reserved.