what significance did this have for the state?

Origins of Money Manager Capitalism
Introduction
On the eve of the financial crisis in 2008 inequality in the United States was at its highest levels since 1929. We see this in a variety of measures. In 1980 the average CEO made 40 times the average worker. By 2004, that number had accelerated to over 500 times. Several studies have shown that virtually all of the income growth over the last thirty years has gone to a narrow percentage of the population.
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