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Well Venezuela has an income inequality of almost 0. I can’t look up the Gini coefficient but I can guarantee you that they are all equal save for the governmen
by whb07 9y ago
Well Venezuela has an income inequality of almost 0. I can’t look up the Gini coefficient but I can guarantee you that they are all equal save for the government cronies.
Income inequality is always parroted as the measurement for a healthy economy, but as my previous point suggests it’s not the end be all.
- guelo 9y agoThe point is that there is a balance somewhere between too much free market and too much inequality.
- whb07 9y agoSurely, I agree with you but in the same manner you have freak athletes at what point do you tell Lebron James, Ronaldo, etc that they are “much too skilled and talented” compared to others? America’s poor are rich in comparison to other countries’ poor. It’s a perception problem, even for the citizens of UAE (forgetting the second class workers for a minute). There’s going to be the random citizen who only owns 3 Ferraris and a small penthouse in London, while some others have 20 cars and two mansions in London and NYC. There will always be those with less.
- dagw 9y agoWell Venezuela has an income inequality of almost 0. Not according to the World Bank or the CIA. At least not 5-6 years ago. The World Bank had Venezuela's Gini coefficient at 44.8% in 2014 vs %40.8 in the US. The CIA has the number at 39.0% (2011) vs 47% in the US.