How 401(k) Plans Have Fueled Inequality in America

Photograph by Howard Sokol/Getty Images

Wages aren’t rising, but the stock market sure is. It’s starting to feel like a Piketty world, in which the owners of capital get richer and leave everyone else behind. A recent study suggests it might be even worse than that: The masses aren’t just being left out of the market—they’re getting pummeled by it.

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