Why stop at the 1950s, why not pine for the 1500s? Income disparity was even less an issue then, and most everyone had the same dirt floor. Envy is a real issue, and it looks like an interesting book -- thanks for mentioning it -- but I can't bring myself to feel sorry for someone when their problem is simply that someone else has more material means. Isn't having hot running water and three meals a day more important than to be earning at a certain percentile relative to your neighbors? There are simple theoretical ways to reduce income disparity. One is to cut everyone's salary in half. Another is to make Bill Gates disappear. Would either of these make the world a better place?I wouldn't want to be one of the other 90 percent, would you?
Are you serious? Households making $120,000 per year are in the lower 90%. There is a line of people at the border waiting to come and join the lower 90% of the United States.