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It doesn’t actually clarify something. All it does is describe the change in inequality over time that really occurred up to the purpose when Kuznets summarized it. Instead of saying there’s a Kuznets curve, we should look on the political economy, the history. The end of growing inequality after the industrial revolution within the U.S. 1950s and 1960s — got here from four predominant sources (listed beneath). These made workers’ struggles comparatively straightforward for a change, as lengthy they saved usually within channels, permitting them to realize a share of among the productiveness features. By the way in which, this does contradict Marx’s “prediction” of growing inequality. Instead, it tells us something we should have identified: like many or most “predictions” in economics, it labored “all else equal.” And never all else stays equal. 1) the crash of 1929, which hit the rich of us especially arduous. 2) the social movements of the 1930s, which pushed F.D.R.
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