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After going through several of these comments, and looking up some wealth statistics/wiki etc., I feel the overlooked/relevant metric is "Where do you stand wit
by srvmshr 5y ago
After going through several of these comments, and looking up some wealth statistics/wiki etc., I feel the overlooked/relevant metric is "Where do you stand within the 1%?" (or 10% if you choose a more generous economic bracket).
Looking at my own info (previous comment in thread), and therafter going through public data, I believe most of us in HN are already in that bracket due to disproportionate poverty seen in S Asia, Africa, S America & LATAM. That 1% number is presenting itself as a feel-good-number. We share the same bracket as Bill Gates, Jeff Bezos & Elon Musk - which does not make much sense, because they are 6-orders richer than us.
Wealth isn't seen in any linear/quasi-linear scale. The last few percentages are incredibly dense. Maybe the lifestyle near poverty line to moderate wealthy is easier to model from economics PoV, but beyond some thresholds, is hard to rationalize.
- s1artibartfast 5y ago>The 1% number is presenting itself as a feel-good-number. We share the same bracket as Jeff Bezos & Elon Musk. I don't think that's the point at all. The point is to show perspective that many people lack on how their income lines up with the majority of the world. I don't need a application to tell me that I make less than Jeff Bezos or where he ranks in terms of global income. And makes perfect sense that we share the top 1% with the hyper rich because... We do!