There is a crucial distinction between 'labor-market inequality' (gaps measured up to the 90th percentile, e.g., college premium, 90/10 ratio) and 'top inequality' (how much the top 1% or 0.1% earn relative to the rest); the causes and data sources for each differ, and standard survey/census data are top-coded so they cannot reveal what happens at the very top.
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Daron AcemogluEvidence Quote
“I think there is a difference between what I'm gonna call labor market inequality which is what I think Rajan is talking about and top inequality”
Created: 6/16/2026, 2:36:28 PM
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