While these factoids were accoeqed by some, what may be new is: 1) that general unrest and anger/frustration at this inequality is growing, as evidenced by the Occupy Wall Street protests; and 2) even mainstream believers of capitalism, like PIMCO as bond-fund investment chief El-Erian (also former manager of the Harvard endowment) or Harvard pre-eminent labor economist Larry Katz (former chief economist of the department of labor under Clinton) admit that we had already drifted into economically deleterious levels.
While these factoids are known by some, what may be new is: 1) that general unrest and anger/frustration at this inequality is growing, as evidenced by the Occupy Wall Street protests; and 2) even mainstream believers of capitalism, like PIMCO bond-fund investment chief Mohamed El-Erian (also former manager of the Harvard endowment) or Harvard pre-eminent labor economist Larry Katz (former chief economist for the department of labor under Clinton) believe that we have drifted into economically deleterious levels.