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So is it "some level" or is it "extreme"? See this chart: piketty.pse.ens.fr/files/capital21c/en/pdf/F0.I.1.pdf This is the income inequality in the USA in the
by andrepd 5y ago
So is it "some level" or is it "extreme"?
See this chart: piketty.pse.ens.fr/files/capital21c/en/pdf/F0.I.1.pdf This is the income inequality in the USA in the 20th century. The slump in inequality coincides with the post-war "golden era of capitalism". On the other hand, its return to gilded age levels heralded the decline of the working class, overfinancialisation, and eventually the catastrophe of 2008.
>All attempts for a perfectly equal economy, that I'm aware of, have ended in disaster. Sometimes horrifically.
There can never by any such thing as a "perfectly equal" economy, so it's useless talking abou it. But we can see that most of the best countries in the world to live in (economically) have comparatively low levels of income inequality.