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Wow, the "ideal" wealth distribution based on what people want is simply nuts. If top quintile owns 35% and bottom two own 25% (perhaps 15% and 10%, respective
by strommen 12y ago
Wow, the "ideal" wealth distribution based on what people want is simply nuts. If top quintile owns 35% and bottom two own 25% (perhaps 15% and 10%, respectively)...that means the richest would own 3.5x more than the poorest, on average.
(If you think this makes any sense at all, consider the median American has a net worth of about $45K. Having 3.5x that amount wouldn't allow you to retire, or even own a 3BR house in Minneapolis.)
A person's wealth should (hopefully) increase as they grow older and save more money. It's clear that the responders to this survey didn't account for that at all.
- cadlin 12y agoYes, but the average net worth is 301k. It doesn't make any sense to look at median numbers when talking about uneven wealth distribution. Of course the median is going to be very low, that's the whole point!
- crusso 12y agoThat's the problem I had with the article as well. You might as well ask the average person what his ideal LDL to HDL cholesterol ratio would be. I'm not prepared to accept the importance of the intuition of the average person in society on wealth distribution any more than I am to accept it on belief in god or taste in music.