3 ms·
I did some quick math: the top .001% consumes as much as bottom 3% of Americans cumulatively. It’s high but it gives an accurate picture of how bad the real pro
by simianwords 11mo ago
I did some quick math: the top .001% consumes as much as bottom 3% of Americans cumulatively. It’s high but it gives an accurate picture of how bad the real problem is.
- willvarfar 11mo agoWhen you say "Americans" do you mean people in the USA? Or the continents? Beyond the wealth inequality within countries, there is the wealth inequalities between countries which drives migration of people or jobs etc. Even the most closed off and isolationist country in the world - probably North Korea? - is not immune to relative wealth on the global stage.
- simianwords 11mo agoMy calculations were all within USA only. Wealth inequality within countries again is solved elegantly within capitalism. Ignoring North Korea for now - India being poor has the advantage of labour that asks for very less wages so outsourcing is a natural strategy for companies in USA. Beyond that imf loans and other means exist. North Korea choosing to be isolationalist is doing it at its own peril.
- Jensson 11mo agoDo you count government aid like healthcare and school? The bottom 3% of Americans consume quite a lot if you count everything throughout their lives.