Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed.
PART 6 The Economics of Labor Markets
Chapter 20 of 36 Income Inequality and Poverty
Section 3 of 20
…
Table 1 shows the income ranges for five quintile groups, and for the top five percent, year 2005
Table 2 shows the share of total income each quintile group of families received in selected years
…
From 1935 to 1970 the distribution became more equal
· the share of the bottom fifth rose from 4.1 to 5.5 percent
· the share of the top fifth fell from 51.7 percent to 40.9 percent
From 1970 to 2005 the trend has reversed
· the share of the bottom fifth fell from 5.5 percent to 4.0 percent
· the share of the top fifth rose from 40.9 to 48.1 percent
…
Two explanations for the recent increase of inequality
· changes in technology
· increased international trade with low-wage countries
These two changes have reduced demand for unskilled labor and raised demand for skilled labor.
The results of these two changes are
· wages of unskilled workers falling relative to wages of skilled workers
· increased income inequality
… …
five quintile groups
itsutsu no go funkurai gurūpu
五つの五分位グループ

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