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Income Inequality: Mexico Assimilating the United States
Sustainable Middle Class has an interesting article on how the US Gini Coefficient (which measures inequality of income) is moving towards that of Mexico. The basically suggests the US rich are becoming richer and the US poor are becoming poorer. The US Department of Labor tend to understate the case here because they are looking at income-and wealth or assets tend to be more concentrated than income. Mexico has actually become somewhat less unequal since the 1970's. US immigration and trade policies have likely been a major factor contributing in making Mexico more equal. What these policies really did was prop up the current elites in Mexico and enable changes without dramatic shifts in economic or political power in Mexico. Of course, there were enormous costs to working Americans. If present trends continue, it looks like Mexico will become just as equal as the US in terms of income sometime the next 10 years.