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But gini coefficient measurements show the magnitude of inequality, and the magnitude today has returned to that of the 1920's robber baron era. And the magnit
by dv_dt 7y ago
But gini coefficient measurements show the magnitude of inequality, and the magnitude today has returned to that of the 1920's robber baron era.
And the magnitude is important because there is a correlation between higher economic growth and a gini value showing lower inequality than today.
- refurb 7y agoCouldn’t find Gini going back that far, but other measures of inequality show we’re below that of the 1930’s. And interestingly, the poverty rate is near a century low. https://www.chartbookofeconomicinequality.com/inequality-by-country/usa/ https://www.chartbookofeconomicinequality.com/inequality-by-...
- dv_dt 7y agoLook at the poverty curve again. We basically have made zero progress on the poverty rate since the 1970s and actually are drifting higher. Yet from our technology base, and continuously rising productivity, it really should be easier than ever to ensure everyone has shelter and food, and yet homelessness is exploding right now too.
- refurb 7y agoThe poverty rate is 1/3rd what it was in 1950. Remarkable progress.