Income and wealth inequality in advanced economies has been rising since the 1980s, with the financial crisis of 2008 not reversing this trend. Within-country inequality now matters more than between-country inequality. Social mobility has not increased to balance out the rise in inequality. Gender pay gaps have decreased, but gender and racial inequalities persist, especially among top income groups. Trade and technology alone cannot explain the inequality differences among rich countries; tax, wage policies, and education and health systems play significant roles.