Sunday, July 12, 2009

sexist wealth distribution created among super-rich

via Too Much weekly
Back in the late 1960s...women made up nearly half of America’s richest 0.01 percent. Their share has now dropped to one third. The prime reason? With the explosion of pay at the top of the corporate ladder, executives can now “work” their way into the ranks of America’s richest. In the process, points out the Stanford Center for the Study of Poverty and Inequality, “the older road of direct inheritance has accordingly been superseded.” Adds the Center: “Until women crack the uppermost echelons of the labor market, we can therefore expect gender inequality in wealth to persist.”