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Opinion
Barry Ritholtz

A Brief History of the Wealth Gap

Wealth, public policy and economic inequality developed along two very different paths in Europe and the U.S.
So this was all about income inequality?

So this was all about income inequality?

Photographer: Joe Raedle/Getty Images

Last week, we reported the ungodly sums of money the top executives at Pimco made. We also noted the obsession we have with tracking other people’s wealth.

Perhaps I painted with too broad a brush when I described this as an American pastime; to be more accurate, it is a hobby of the moneyed classes in general and on Wall Street in particular. My apologies to the rest of America, onto whom I unfairly projected this unseemly preoccupation.