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Every economic system exists only to satisfy human wants, yet most systems fail to do so. Taking a keen look at the gap between goal and result, Stanley Lebergott appraises public policies relating to the U.S. distribution of income and wealth today.

Part I shows that many programs have disappointed their proponents because certain basic assumptions were not understood. The author’s new data suggest more realistic answers to much-debated questions: Are the rich getting richer? How much 鈥渦pward mobility鈥� exists? What approaches to poverty, starvation, and discrimination are practical today?

In Part II, size distributions are derived for wealth in 1970, for income in 1900, and for white and non-white income for the period 1900-1970. These data include new estimates for key items in the standard of living since 1900, with detail on services that have dominated the 鈥減ostindustrial鈥� economy.

Originally published in 1976.

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