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o HYPERLINK /american_economic_history/2008/10americ.htmlAmerican Income Inequality American Inequality The Top Tenth: Within the Top Tenth: The Top Ten Thousand: A Closer Look: Differences in Log Earnings: Wage Ratios: Decomposing: Start with the 1940 distribution: Change the Xs (characteristics): Change the betas (prices): Change the residuals: Before 1940: After WWII: Posted at 01:39 PM in HYPERLINK /american_economic_history/lecture_notes/ Lecture Notes | HYPERLINK /american_economic_history/2008/10americ.html Permalink | HYPERLINK /american_economic_history/2008/10americ.html \l comments Comments (0) October 27, 2008 HYPERLINK /american_economic_history/2008/10americ.htmlAmerican Economic History: The Furnace Where the Future Is Being Forged Investment, Resources, Invention, and Technological Change America is: Resource rich Skilled labor abundant Energetic, entrepreneurial labor abundant (to have crossed an ocean...) America is also capital rich, and new capital rich--hence technologically advanced ** The furnace where the future is being forged... Labor and Capital Americas Commitment to Education: Iowa: Claudia Goldin and Larry Katz look at Iowa high schools America has a very strong and very early commitment to general education Europe: why not provide people with the education theyll need early (answer: people change jobs, the economy changes, the background knowledge base is very important) Europe: educate the working classes and theyll ask for more (response: yes, thats the point) Americas commitment to human capital as a very powerful multiplier of productivity America and Unions: The Early Stages: America has a long history of labor unions America has a long, bloody labor history Pinkertons Federals--Grover Cleveland vs. John Peter Altgeld in the breaking of the Pullman strike Early unions: Knights of Labor Early unions: IWW Union threat: the IWW and Henry Fords $5 day. Just because un