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On the contrary, GINI vs per capita GDP show a negative correlation (really, more of an L shape with the US as an outlier). The US is the only country with a GI
by sjburt 5y ago
On the contrary, GINI vs per capita GDP show a negative correlation (really, more of an L shape with the US as an outlier). The US is the only country with a GINI over .4 and a per-capita GDP over $35k.
https://www.businessinsider.com/goldman-sachs-chart-shows-us-stands-out-income-inequality-2016-8 https://www.businessinsider.com/goldman-sachs-chart-shows-us...
Much of Western Europe has similar GDP per-capita and much less inequality.
- pessimizer 5y agoOther countries aren't smart enough to run up a massive and increasing trade deficit, year after year, forever and ever, amen.
- aabaker99 5y agoI've never understood the fixation some people have on the trade deficit. Why is a large trade deficit a concern to you? Does that influence the Gini coefficient in the US? Apologies if I misunderstood your comment.
- eberkund 5y agoA large trade deficit arguably has a large impact on the Gini coefficient. A continuous and growing trade deficit is funded with currency expansion, which inflates asset prices. In other words: the rich get richer.
- gogopuppygogo 5y agoIt’s building the economy for communist slave labor nations that seek to grow their military worldwide. Sounds wonderful if you like communism. To me, as someone who doesn’t, that sounds bad. Therefore we should be trying to end the trade deficit ASAP.
- anticodon 5y agoUSA cannot end the trade deficit. USA is a parasite on the world economy: it prints dollars and buys everything it needs with a pieces of paper (or zeros and ones in some bank computer). Unlike almost all other countries in the world, where they have to work hard with their hands and brains to get something. USA printed more trillions only in the last year, that China - country that provides all the world, including US, with clothes, electronics and just about everything else - managed to save in the last 20 years. This position is incredibly profitable for the USA, but it needs the largest military power to maintain status quo, because all the other countries understand they're being ripped off. And this military power immediately kills anyone who renounce use of dollar for trade (see Iraq, Libya). If USA will end trade deficit somehow, it would mean that it would be on par with other countries, and population of USA would have to reduce its consumption of goods and resources by 15-20x. It will be the end of USA, most probably civil war and collapse.
- throw0101a 5y agoFurther, the more inequality exists (>GINI), the less social mobility there seems to be: * https://en.wikipedia.org/wiki/Great_Gatsby_curve https://en.wikipedia.org/wiki/Great_Gatsby_curve
- bjornsing 5y ago> Much of Western Europe has similar GDP per-capita and much less inequality. And also no SpaceX. EDIT: We used to make the computer in your pocket, but now that too is in the US and China.
- paulryanrogers 5y agoSpaceX wasn't built from scratch. They had some ex-NASA talent and depend on publicly owned launch facilities. IMO on the whole they're also not a great example of sustainable progress. (Unless I'm overestimating their carbon footprint.)
- throw0101a 5y ago> […] and depend on publicly owned launch facilities. And were awarded public contracts early on: * https://www.nasa.gov/exploration/news/COTS_selection.html https://www.nasa.gov/exploration/news/COTS_selection.html
- WalterBright 5y ago> SpaceX wasn't built from scratch Neither was the government space program. Besides, NASA has consistently been completely unable at making launches cost-effective. NASA failed at making reusable rockets. NASA simply retreated. Compare the arcs of NASA's space shuttle with what SpaceX is accomplishing.
- KittenInABox 5y agoI don't really think SpaceX's existence is a reasonable measurement of the merits of economic inequality.
- WalterBright 5y agoAn opinion without any sort of rationale doesn't mean much.
- nemo44x 5y ago
- CryptoPunk 5y agoWhat's the correlation between GINI and per capita GDP growth? It's easy for a rich country to abandon the policies that made it rich, by adopting social democracy, and subsequently see stagnation in their per capita growth rate and a reduction in their GINI, while still remaining among the wealthiest countries in the world for a few decades before they are inevitably leapfrogged.
- WalterBright 5y agoNeed to look at it in terms of PPP (Purchasing Power Parity) per capita. https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)... Norway does a bit better, but 20% of Norway's GDP is pumped out of the ground.