3 ms·
That was a very small ruling class exploiting pretty much the entire population. That's very low levels of inequality.
by eloff 6y ago
That was a very small ruling class exploiting pretty much the entire population. That's very low levels of inequality.
- lumost 6y agoTypically that would be viewed as high inequality. If the ruling class of .1% controls 99.9% of the wealth then the "average wealth" and the "median wealth" will be extremely different aka wealth inequality.
- eloff 6y agoThat would be high inequality, yes. However, if the ruling class of 0.1% has 10% of the overall wealth, then that would be very low inequality. I would expect that to have been closer to the truth under the old USSR or the old Cuba, see the graph at: https://voxeu.org/sites/default/files/image/FromMay2014/novokmentfig6.png https://voxeu.org/sites/default/files/image/FromMay2014/novo... taken from: https://voxeu.org/article/inequality-and-property-russia-1905-2016 https://voxeu.org/article/inequality-and-property-russia-190...
- bserge 6y agoThat's high inequality, isn't it? Also I always laugh at how the CPSU was supposed to bring true communism but instead just kept the power indefinitely. "After all, why not? Why shouldn't I keep it?" heh