Inequality has reached obscene limits in our time, considering the technological advances. A social system that allows such immorality cannot be stable. Moreover, history shows that labor productivity and technological progress can occur under all kinds of social conditions. And greed is not necessarily related to increased productivity.
Hi there. The Gini coefficient of gross income has decreased a little over the last few decades globally, which means decreased inequality, and I believe the Gini coefficient is one of the best indicators of inequality due to accounting for the whole income distribution.
Our World in Data did not have data on the global trend of the Gini coefficient of net income, which is more relevant than gross income. However, hapiness is even more relevant, and hapiness inequality has apparently been decreasing.
The reason for this global trend is because Global income inequality has decreased globally (mainly because of India and China’s development), whereas within individual countries in general inequality has been increasing over the last 50 years—which is what matters most in people’s perception. At the level of the nation state, which is what matter socially, inequality has drastically increased—especially right at the top end of wealth.
I agree with Pinker that inequality is not quite as bad as a lot of people think, but wanted to get the facts right here.
Inequality has reached obscene limits in our time, considering the technological advances. A social system that allows such immorality cannot be stable. Moreover, history shows that labor productivity and technological progress can occur under all kinds of social conditions. And greed is not necessarily related to increased productivity.
Hi there. The Gini coefficient of gross income has decreased a little over the last few decades globally, which means decreased inequality, and I believe the Gini coefficient is one of the best indicators of inequality due to accounting for the whole income distribution.
Our World in Data did not have data on the global trend of the Gini coefficient of net income, which is more relevant than gross income. However, hapiness is even more relevant, and hapiness inequality has apparently been decreasing.
The reason for this global trend is because Global income inequality has decreased globally (mainly because of India and China’s development), whereas within individual countries in general inequality has been increasing over the last 50 years—which is what matters most in people’s perception. At the level of the nation state, which is what matter socially, inequality has drastically increased—especially right at the top end of wealth.
I agree with Pinker that inequality is not quite as bad as a lot of people think, but wanted to get the facts right here.
Thanks, Nick.
I would say hapiness is more important than wealth, and it looks like hapiness inequality has decreased within countries (see graph in my 1st reply).