In their book , political scientists Jacob S. Hacker and Paul Pierson present a "detective story" that investigates why American economic inequality has skyrocketed since the late 1970s. The Central Mystery: Who Stole the Middle-Class Dream?
This political muscle led to deregulated financial markets, tax cuts for the hyper-wealthy, and a system where "banks are organized; their customers are not". Winner-Take-All Politics: How Washington Made t...
The authors found that economic growth didn't just favor the "educated"—it favored the , and even more so the top 0.1% . In their book , political scientists Jacob S
Elite interests didn't always need to pass new laws. Often, they just had to block updates to old ones—a tactic called "drift"—letting inflation and market changes erode middle-class protections like the minimum wage or labor laws. This political muscle led to deregulated financial markets,
Between 1979 and 2007, the richest 1% saw their income grow by 256% , while the bottom 80% grew by only 20% .