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I wish there were data that distinguished between top 1% by income and top 1% by wealth. Income inequality may be worth targeting in itself, but if the turnover
by jeffreyrogers 8y ago
I wish there were data that distinguished between top 1% by income and top 1% by wealth. Income inequality may be worth targeting in itself, but if the turnover of top-1% income earners is high it doesn't matter as much as if it's fixed. Similarly, if wealth is not being maintained generation after generation then concentration is not as important either.
- robbintt 8y agoCheck out "Capital in the 21st Century" by Thomas Picketty. The picture is bleak, and it describes how the truly wealthy (top 1% of stored wealth) must self regulate or risk passing a tipping point. And how they are failing to do so between 1980-2010, as modern conditions globally approach those of the French Revolution.