> When you read rising inequality, you should read it as 'failure in our meritocracy is producing a rise in unjust inequality' if that will make you feel better

> When you read rising inequality, you should read it as 'failure in our meritocracy is producing a rise in unjust inequality' if that will make you feel better. I don't, because the predominant measure for inequality is the GINI, which has exactly those flaws that I am pointing out. Furthermore, the GINI based on wealth is even more misleading, because it's mostly based on the paper wealth that people have accumulated. Economic stimulus policy that inflates asset prices is responsible for that rise. Just look at the GINI vs the S&P500 [1] and you'll find that suddenly in 2008 people became "more equal". They weren't better off for it though. [1] https://research.stlouisfed.org/publications/economic-synopses/2016/04/29/taking-stock-income-inequality-and-the-stock-market/ https://research.stlouisfed.org/publications/economic-synops...