This paper provides a comprehensive survey on six aspects of rising inequality in the US: changes in labor?s share, inequality at the bottom, inequality at the top, labor mobility, inequality in consumption as contrasted to inequality of income, and international differences in inequality,...

While Europe?'s level of productivity has almost converged to the United States?'one, its per-capita income has leveled off at about threequarters of America?'s. How could Europe be so productive yet so poor? The simple answer is that hours per person in Europe have fallen drastically in the...