Where the 1% Lives

Areas with large wealth gaps have more unstable economies

It used to be better to be down and out in Beverly Hills than elsewhere. Not so much anymore. In mid-December the U.S. government released data on income inequality around the country from the 2010 Census. In the past 10 years, as in the decade before, the gap between rich and poor has grown almost everywhere, but it has grown particularly acute in the South, the East and in cities with the nation's wealthiest populations, like Greenwich, Conn.; Beverly Hills, Calif.; and New York City. A recent study from the International Monetary Fund found that countries with small income gaps tended...

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