Joke of the century

2 January, 2016 at 12:57 | Posted in Economics | Leave a comment

wealth will trickle down

Inequality continues to grow all over the world.

In case you think that it’s different in my own country — Sweden — you should take a look at data from Statistics Sweden and this (Swedish) video.

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:
SwedenGini1980to2011            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.

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