Thanks, I think this is a good question and a good preliminary overview.
How much of their wealth do the very wealthy ever actually spend on their own consumption? If the wealth simply accumulates and is never spent (or better, is given the charity) who owns it is less important.
Yeah, I really want to know the answer to this. Distribution of consumption levels is much more important than distribution of wealth levels in terms of understanding the real opportunity costs of inequality.
Thanks, I think this is a good question and a good preliminary overview.
Yeah, I really want to know the answer to this. Distribution of consumption levels is much more important than distribution of wealth levels in terms of understanding the real opportunity costs of inequality.