04/16/2012 08:42 am ET

We Are The 99 Percent, 1765 Edition

One might dispute the biblical assertion that “the poor always ye have with you” (John 12:8, King James Version), but it is indisputable that we will always have the top 1 percent of the income distribution among us. The recent focus on the top 1 percent by the Occupy Wall Street movement has drawn attention to the distribution of income in the United States and the trend toward increased inequality of income in the last three decades (see, for example, this January 2012 speech by the Chairman of the President's Council of Economic Advisers, Alan Krueger).

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