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Inequality seems like a meaningless metric. It's not a good measure of a society's well being. For example, let's assume a country of 10 where 9 people have $1
by wallawe 5y ago
Inequality seems like a meaningless metric. It's not a good measure of a society's well being.
For example, let's assume a country of 10 where 9 people have $1 million and 1 person has $100 trillion. The inequality is massive but everyone has a great standard of living.
- agentdrtran 5y agothat thought experiment is nice but in the real world we have widespread poverty and 1% with more money than any human could ever spend
- sassifrass 5y agoThat’s not how the Gini coefficient[1] is being calculated. [1] https://en.wikipedia.org/wiki/Gini_coefficient https://en.wikipedia.org/wiki/Gini_coefficient
- Ekaros 5y agoWithout external trade I doubt that 1 million will buy too much.
- bserge 5y agoAnd now let's take a real example where 100 people have a trillion and 100,000,000 people have 10,000. And that's not even the bottom end.