Kearney comments on income inequality for CNBC
John Harwood, examining the political importance of income inequality for CNBC, points out that "the rising gap between the rich and everyone else has fueled unrest across the world, from Europe’s ongoing Brexit crisis to this year’s elections in India. A sharp reduction in extreme poverty globally has not diminished the sense of loss among middle- and working-class citizens of countries with advanced economies." He points to technology, globalization, "superstar" corporations, labor's decline, and rule breaking by those with resources.
Faculty Associate Melissa Kearney notes that "There is increasingly divergence and economic growth and economic outcomes across places in the U.S. Along with these superstar workers, and these superstar firms, we now have superstar cities in our increasingly winner-take-all economy.”