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INCOME INEQUALITY, MEDIA FRAGMENTATION, AND INCREASED POLITICAL POLARIZATION
Author(s) -
Duca John V.,
Saving Jason L.
Publication year - 2017
Publication title -
contemporary economic policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.454
H-Index - 49
eISSN - 1465-7287
pISSN - 1074-3529
DOI - 10.1111/coep.12191
Subject(s) - economic inequality , polarization (electrochemistry) , voting , inequality , economics , fragmentation (computing) , development economics , politics , income distribution , cointegration , demographic economics , political science , econometrics , mathematical analysis , chemistry , mathematics , computer science , law , operating system
The increasing polarization of congressional voting has been linked to legislators' inability to reach consensus on many pressing economic issues. We examine two potential factors driving polarization: greater income inequality and the increasingly fragmented state of American media. Using cointegration techniques, we find evidence indicating that media fragmentation has played a more important role than inequality. Periods of rising media fragmentation are followed by increased polarization. If recent patterns of media structure and income inequality persist, a polarized policymaking environment will likely continue to impede efforts to address major challenges, such as the long‐run fiscal imbalances facing the United States. ( JEL D72, D31)