bottom 99% and top 1% in the U.S. and Canada have had very different rates of growth of market income among since the 1980s …, consumption and savings flows have necessarily changed. If aggregate expenditure is to equal aggregate income, the added savings … implies financial fragility, periodic financial crises, greater volatility of aggregate income and, as governments respond to …

notable cases where inequality slightly declined and poverty modestly increased. Growth in income inequality has been … although inequality in household income has been essentially flat over the period 1997-2009, inequality in household … consumption has grown moderately over the same timeframe. Since consumption is closer to material well-being than income, this …