A new gilded age
The income inequality that was the hallmark of the Gilded Age in the late 1800s was driven by changes in employment as the nation moved from agriculture to manufacturing. Lobbyist Bruce Mehlman finds a similar trend in Census data showing growth of service industry employment and continuing decline of manufacturing jobs.
Why this matters: Mehlman notes that the Gilded Age saw the rise of vast fortunes for innovators, new technology reshaping the economy and intensely divided politics, all helping to fuel a populist backlash.
Reproduced from "Navigating the New Gilded Age" by Bruce Mehlman.