Saturday, March 12, 2005

Inequality difficult to eliminate

New Scientist reports that econophysicists – no joke – have arrived at a startling conclusion:
The rich are getting richer while the poor remain poor. If you doubt it, ponder these numbers from the US, a country widely considered meritocratic, where talent and hard work are thought to be enough to propel anyone through the ranks of the rich. In 1979, the top 1% of the US population earned, on average, 33.1 times as much as the lowest 20%. In 2000, this multiplier had grown to 88.5. If inequality is growing in the US, what does this mean for other countries?

Almost certainly more of the same, if you believe physicists who are using new models based on simple physical laws to understand the distribution of wealth. Their studies indicate that inequality in market economies may be very hard to get rid of.
Well, duh. What would capitalism be without inequalities?

1 Comments:

Anonymous Jorgen said...

while the poor remain poor

Even if true, one should add: but better educated, better dressed, living in better houses, eating better, receive better health care, own more luxury items ... and with the chance of becoming wealthy as living in a capitalistic society.

10:56 PM  

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