America is more unequal than it has been in a century. The richest 0.1 percent of American families own as much wealth as the lower 90 percent of all American families combined. Between 1979 and 2007, the richest one percent took in 53.9 percent of all income growth. And wealth inequality grew even more dramatic in the wake of the great recession.
A fast-growing number of Americans know that their country has a monopoly problem, and that wealth, power, and control are increasingly concentrated in the hands of the few. We see this in poll numbers – in which 63 percent say that the distribution of wealth and money is unfair – and we see it in protest movements like the Tea Party and protest candidacies like that of Bernie Sanders, largely powered by voters fed up with the state of America’s politics and economy.
“To rebuild an economy that works for everyone, not just the big guys, it is critical to reduce concentrated power in our markets,” U.S. Senator Elizabeth Warren said at the Open Markets Institute event, America’s Monopoly Moment, this past week. Watch the event here.