Joke of the century2 January, 2016 at 12:57 | Posted in Economics | Leave a comment
Inequality continues to grow all over the world.
The Gini coefficient is a measure of inequality (where a higher number signifies greater inequality) and for Sweden we have this for the disposable income distribution:
Source: Statistics Sweden and own calculations
What we see happen in the US, the UK, and Sweden, is deeply disturbing. The rising inequality is outrageous – not the least since it has to a large extent to do with income and wealth increasingly being concentrated in the hands of a very small and privileged elite.
Societies where we allow the inequality of incomes and wealth to increase without bounds, sooner or later implode. The cement that keeps us together erodes and in the end we are only left with people dipped in the ice cold water of egoism and greed.