3 ms·

Does all growth go to the same rich people, or do more people become rich?

by talldatethrow 3y ago

dralley 3y ago
A little of column A, a little of column B. But the wealth distribution across percentiles continues getting worse.
cumshitpiss 3y ago
[dead]
ceejayoz 3y ago
See the chart at https://www.nytimes.com/interactive/2017/08/07/opinion/leonhardt-income-inequality.html https://www.nytimes.com/interactive/2017/08/07/opinion/leonh....
TeMPOraL 3y ago
Yes, but: in case of the latter, does the amount of people becoming rich outpace population growth? Is it even greater than the rate of growth in the sub-population of those already rich?
carlosjobim 3y ago
More people become poor. Haven't you noticed?
- refurb 3y ago
  Percent of people in poverty is much lower now than in 1970. And that’s with the poverty level being a moving target.
jmeister 3y ago
>For example, if you’re looking at static inequality, Europe appears to be more egalitarian than the United States—their wealth is more evenly distributed across the population. But Taleb uses some statistics of dynamic inequality that propose America may be fairer than Europe. In Europe, more than a third of the five hundred wealthiest people inherited their wealth from family dynasties that have lasted for centuries. Compare this to the US, where 90% of the wealthiest five hundred people entered that list less than thirty years ago. >Here’s another statistic on dynamic equality in America: 10% of Americans will spend at least one year in the top 1% of income earners, and more than half of all Americans will spend at least a year in the top 10% of income earners. Since what we’re trying to do is allow the market to reward those who contribute to society, greater turnover among the rich in the United States is a sign of fairness. https://www.shortform.com/blog/types-of-inequality/ https://www.shortform.com/blog/types-of-inequality/ https://medium.com/incerto/inequality-and-skin-in-the-game-d8f00bc0cb46 https://medium.com/incerto/inequality-and-skin-in-the-game-d...

Does all growth go to the same rich people, or do more people become rich?

dralley 3y ago

A little of column A, a little of column B. But the wealth distribution across percentiles continues getting worse.

cumshitpiss 3y ago

[dead]

ceejayoz 3y ago

See the chart at https://www.nytimes.com/interactive/2017/08/07/opinion/leonhardt-income-inequality.html https://www.nytimes.com/interactive/2017/08/07/opinion/leonh....

TeMPOraL 3y ago

Yes, but: in case of the latter, does the amount of people becoming rich outpace population growth? Is it even greater than the rate of growth in the sub-population of those already rich?

carlosjobim 3y ago

More people become poor. Haven't you noticed?

refurb 3y ago
Percent of people in poverty is much lower now than in 1970. And that’s with the poverty level being a moving target.

jmeister 3y ago

>For example, if you’re looking at static inequality, Europe appears to be more egalitarian than the United States—their wealth is more evenly distributed across the population. But Taleb uses some statistics of dynamic inequality that propose America may be fairer than Europe. In Europe, more than a third of the five hundred wealthiest people inherited their wealth from family dynasties that have lasted for centuries. Compare this to the US, where 90% of the wealthiest five hundred people entered that list less than thirty years ago. >Here’s another statistic on dynamic equality in America: 10% of Americans will spend at least one year in the top 1% of income earners, and more than half of all Americans will spend at least a year in the top 10% of income earners. Since what we’re trying to do is allow the market to reward those who contribute to society, greater turnover among the rich in the United States is a sign of fairness. https://www.shortform.com/blog/types-of-inequality/ https://www.shortform.com/blog/types-of-inequality/ https://medium.com/incerto/inequality-and-skin-in-the-game-d8f00bc0cb46 https://medium.com/incerto/inequality-and-skin-in-the-game-d...