Please read Dr. Crystal’s article in The Journals of Gerontology titled, “Impact of the 2008 Recession on Wealth-Adjusted Income and Inequality for US Cohorts.”
Inequality over the life course reflects interactions between persistent tendencies toward increasing heterogeneity with age and the particular historical circumstances, including economic developments and policy choices, that shape the acquisition of human, social, and health capital over time. These factors are illustrated by the impacts of the Great Recession of 2008 and the subsequent recovery, which offer an opportunity to examine the effects of economic shock and recovery policies from an integrative cumulative advantage perspective.
The Great Recession drastically affected employment rates and asset values across the U.S. economy. In response, the federal government invested large sums aimed at stabilizing assets held in collapsing financial institutions and stimulating recovery. These policies carry diverse implications for wage earners and asset holders and may interact with ongoing processes of stratification. To read the full article.
Impact of the 2008 Recession on Wealth-Adjusted Income and Inequality for US Cohorts. Zewde N, Crystal S. J Gerontol B Psychol Sci Soc Sci. 2021 Jul 28;gbab141 PMID: 34320206 DOI: 1093/geronb/gbab141