The period during the 1930s and 1940s when income inequality fell sharply is called the:

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The Great Compression refers to the time period in the United States during the 1930s and 1940s when income inequality fell drastically. This was due to factors such as the New Deal policies, progressive taxation, and the rise of labor unions. The term was coined by economist Claudia Goldin and historian Robert Margo in their book "The Great Compression: The Wage Structure in the United States at Mid-Century."

The Period During the 1930s and 1940s When Income Inequality