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What source are you basing that on? You can find countless sources that show the 0.1% owning an ever greater share: https://www.theguardian.com/business/2014/no

What source are you basing that on? You can find countless sources that show the 0.1% owning an ever greater share: https://www.theguardian.com/business/2014/nov/13/us-wealth-inequality-top-01-worth-as-much-as-the-bottom-90 https://www.theguardian.com/business/2014/nov/13/us-wealth-i... "Over the past three decades, the share of household wealth owned by the top 0.1% has increased from 7% to 22%."

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criley2 4y ago
I'm basing that on global numbers, not national numbers. Sure, I don't doubt that in developed economies inequality is getting worse. But in the past 4 decades, I'll remind you that around 800,000,000 Chinese (that's eight hundred million people) were lifted above the global poverty line and were able to stop subsistence farming. https://www.worldbank.org/en/news/press-release/2022/04/01/lifting-800-million-people-out-of-poverty-new-report-looks-at-lessons-from-china-s-experience https://www.worldbank.org/en/news/press-release/2022/04/01/l... So to say that global inequality is getting worse, when billion+ have been lifted out of abject poverty in that time, it's not correct to me. Things were worse 40 years ago when billion+ more humans were below the global poverty line, even if today billionaires are even richer than the middle class.
- owisd 4y ago
  There's a good video on how that $1.90 is arbitrary and too low, and if you try to come up with a poverty line from first principles, you end up more in the $5-$12 range, where it doesn't paint such a great picture. https://www.youtube.com/watch?v=fo2gwS4VpHc#t=19m16s https://www.youtube.com/watch?v=fo2gwS4VpHc#t=19m16s
- RyanHamilton 4y ago
  Inequality is about the ratio of high earners to low earners. What you have linked to is a different concept, i.e. absolute income. Income inequality in china also increased, see figure 5: https://blogs.lse.ac.uk/businessreview/2019/04/01/income-inequality-is-growing-fast-in-china-and-making-it-look-more-like-the-us/ https://blogs.lse.ac.uk/businessreview/2019/04/01/income-ine... Imagine you live in a neighbourhood of 50 people. Everyone starts earning more, that's absolute income increase. Then imagine your richer neighbours income has increased 100x faster than anyone else, that's income inequality.

deleted 4y ago

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criley2 4y ago

I'm basing that on global numbers, not national numbers. Sure, I don't doubt that in developed economies inequality is getting worse. But in the past 4 decades, I'll remind you that around 800,000,000 Chinese (that's eight hundred million people) were lifted above the global poverty line and were able to stop subsistence farming. https://www.worldbank.org/en/news/press-release/2022/04/01/lifting-800-million-people-out-of-poverty-new-report-looks-at-lessons-from-china-s-experience https://www.worldbank.org/en/news/press-release/2022/04/01/l... So to say that global inequality is getting worse, when billion+ have been lifted out of abject poverty in that time, it's not correct to me. Things were worse 40 years ago when billion+ more humans were below the global poverty line, even if today billionaires are even richer than the middle class.

owisd 4y ago
There's a good video on how that $1.90 is arbitrary and too low, and if you try to come up with a poverty line from first principles, you end up more in the $5-$12 range, where it doesn't paint such a great picture. https://www.youtube.com/watch?v=fo2gwS4VpHc#t=19m16s https://www.youtube.com/watch?v=fo2gwS4VpHc#t=19m16s
RyanHamilton 4y ago
Inequality is about the ratio of high earners to low earners. What you have linked to is a different concept, i.e. absolute income. Income inequality in china also increased, see figure 5: https://blogs.lse.ac.uk/businessreview/2019/04/01/income-inequality-is-growing-fast-in-china-and-making-it-look-more-like-the-us/ https://blogs.lse.ac.uk/businessreview/2019/04/01/income-ine... Imagine you live in a neighbourhood of 50 people. Everyone starts earning more, that's absolute income increase. Then imagine your richer neighbours income has increased 100x faster than anyone else, that's income inequality.