Massive Wealth Inequality Exists In Every Demographic Group

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In this piece, I show that every age, education, and racial group tends to have the same level of wealth inequality. No matter how you slice it, "the top 10 percent tends to own around 70 percent of the wealth. The next 10 percent tends to own around 10 to 15 percent of the wealth. And everyone else in a particular group owns a relatively negligible share of the wealth, with the bottom 40 percent typically owning nothing on average."

I conclude: "This suggests that the patterns of wealth inequality that we see in society are deeply embedded in the way our economic system works. If we want to break those patterns up and create a more egalitarian system, truly radical changes to how we own wealth will probably be necessary."