We discuss how the top 10% of earners in the US received a significant portion of income, up to 45%, during the 1920-1940 period. However, this share decreased to 32% with the onset of war, before returning to 45% in The Korean War also had a positive impact on the US economy, with an 11% growth rate in It's evident that war has a significant impact on income distribution in the United States, leading to a more concentrated distribution of income among the top earners. This trend has been observed multiple times throughout history and is driven by increased government spending during wartime, which leads to decreased consumption and investment spending.
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