As is now well known, U.S. income inequality has grown dramatically over the past forty years. Less well appreciated is that there have been two distinct phases in the evolution of the income distribution. The first phase from the 1970s through the mid to late 1990s involved widening income gaps between skilled and unskilled workers and an […]

These days, everyone seems anxious about Congress. Rarely does a news cycle pass without new stories of political dysfunction in Washington, DC. New reports of stalemates, fiscal cliffs, and failed grand bargains have begun to erode the public confidence in the ability of our representative institutions to govern effectively. In May 2013, only one in […]