The study of inequality has been going on forever. To give you an idea, the index used to measure how unequal the distribution of income is -- the "Gini Coefficient" -- was invented a century ago. So, why the sudden interest? Why worry now about something that has been the fodder of academics, politicians, and the media for so long?
CAMBRIDGE, Mass. -- Given the gridlock in Washington, is America going the way of the Roman Empire? Some analysts argue that the costs of exercising power overseas weakens domestic economies and contributes to their decline because of "imperial overstretch." But America does not fit that theory because defense and foreign affairs expenditures have actually declined as a share of GDP over the past several decades.