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The majority of income differences comes from your skill. A doctor earn much more than a cashier due to having a more valuable skill, and that span makes up the
by Jensson 3y ago
The majority of income differences comes from your skill. A doctor earn much more than a cashier due to having a more valuable skill, and that span makes up the bulk of gini coefficient.
Ultra wealth can't be explained with skill difference, no, but that isn't very relevant to this discussion. You can get a ton of money just through skill alone, doctors, programmers, lawyers etc aren't poor by any stretch.
- spamizbad 3y ago> The majority of income differences comes from your skill. A doctor earn much more than a cashier due to having a more valuable skill, and that span makes up the bulk of gini coefficient. Training certainly big plays a role, but the majority of a doctor's income, at least in the United States, comes from the fact that they're part of a labor cartel which artificially limits the number of doctors. No such cartel exists for cashiers. It's why even a mediocre doctor in the United States can make significantly more there than anywhere else in the world despite receiving equivalent training.
- em500 3y ago> It's why even a mediocre doctor in the United States can make significantly more there than anywhere else in the world despite receiving equivalent training. A mediocre developer or hairdresser in the United States also makes significantly more there than anywhere else in the world despite receiving equivalent training. That doesn't require any labor cartel.
- harimau777 3y agoI think that oversimplifies things. Even a very skilled teacher or therapist is unlikely to make as much as an average skilled doctor, programmer, or (maybe?) lawyer.