Winner-take-all Politics: How Washington Made T... May 2026

For decades, Americans were told that rising inequality was an inevitable result of —the idea that computers and globalization naturally reward the highly educated while leaving others behind. However, the authors argue that this "suspect" has an alibi. If technology were the only cause, we would see similar inequality spikes in all advanced nations, yet the U.S. remains a stark outlier. The Investigation: The "Yachts vs. Dinghies" Economy

Instead of a rising tide lifting all boats, they describe an economy where "yachts are rising, but dinghies are largely staying put". The Culprit: Organized Politics Winner-Take-All Politics: How Washington Made t...

The "crime" wasn't committed by the market, but by . The story highlights a massive organizational shift starting around 1978: For decades, Americans were told that rising inequality

In their book , political scientists Jacob S. Hacker and Paul Pierson present a "detective story" that investigates why American economic inequality has skyrocketed since the late 1970s. The Central Mystery: Who Stole the Middle-Class Dream? remains a stark outlier

This political muscle led to deregulated financial markets, tax cuts for the hyper-wealthy, and a system where "banks are organized; their customers are not".