Re:Just Be Rich
by kortilla on Tuesday April 13, 2021 @03:08AM
(#26789007)
Income equality tells you nothing about the conditions of the middle or lower class. An economy in which all classes grow income and wealth can still increase inequality if it allows more people than before to become rich.
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> Income equality tells you nothing about the conditions of the middle or lower class.
There's a graph in TFA showing that, after adjusting for inflation, the per-individual wealth of the middle and lower classes decreased by 20% and 45% respectively between 2001 and 2016. The individual wealth of the upper class increased by 33% in this time period.