income gap?

What we are seeig increasingly is a society of private alluence and public squalor.
Does this sentence mean income gap between a few rich people and the many poor people in general ?

Yes

Josh Lalonde *
Are u sure it is from Galbraith's "Affluent Society"? I found it in the Cambridge Learner's Dictionary. I am feel suspicious about my understanding of it. So I put it to Antimoooners.