Introduction and Summary

Few topics are more certain to generate a lively debate among any group of individuals than the causes and consequences of income inequality. Economists are prone to similar, although more reasoned and empirically based, debates. This book is a curated collection of essays that explores a wide range of viewpoints about income inequality in the United States. Neither income nor income inequality is easily measured, and, consequently, economists have different views about what is the best measure. Economists also offer differing explanations for the sources of income inequality and its ultimate consequences, leading to opposing policy implications. Finally, focusing on the United States adds yet another layer of complexity. Americans have unusually high incomes and unusually high income inequality.