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Thanks for your research. You are right in pointing to the difference between wealth and income inequality. My data online seems to explain the former, but not
by Hermel 12y ago
Thanks for your research. You are right in pointing to the difference between wealth and income inequality. My data online seems to explain the former, but not the latter. While I find my mentioned correlation between age and wealth inequality very interesting and plausible, one should should be aware of the following weaknesses of my argument:
- It explains wealth of the top 10%. It does not explain income inequality or wealth inequality regarding the top 1%.
- The correlation is much weaker in other countries.
- Inequality can corrode the fabric of society, regardless of its cause. Being able to explain raising inequality does not make it better. Or, as the Fins say: Weighing s--- does not make it better s---.
Another interesting consideration is that the working poor are often single parents. Having children outside marriage is one of the biggest risks of poverty. Thus, one of the biggest leftist achievements, namely the abandoning of traditional family values in favor of a more flexible and individualistic model, is one of the primary causes of poverty. There are many benefits of this development, but it also came at the price of new forms of poverty and thereby also increasing inequality.