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There's Income --- Then There's Income Inequality: A New Standard for Banana Republics in the Making
By Harold Hellickson (about the author)
Become a Fan (7 fans) -- Page 3 of 5 page(s)
.. No. 49 - LA - 0.475 - Madagascar
.. No. 50 - MS - 0.471 - Nepal
LA's Gini index of 0.475 is exceeded by DC's 0.537. The income inequality of DC is higher than that of:
.. Belize at 0.492 or Costa Rico at 0.480 or
.. El Salvador at 0.524 or Honduras at 0.530 or
.. Mexico at 0.461 or Nicaragua at 0.431.
Of all Central American countries, the income inequality of Guatemala at 0.551 and Panama at 0.562 are the only ones that exceeds that of DC.
Income inequality in eleven states exceeds that of Mexico's 0.461.
Income inequality is highest in NY at 0.495, worse than Costa Rico but better than Honduras.
Income inequality is lowest in UT at 0.410, the same as Russia. The best of the 50 states is the same as the worst country in Europe .
Namibia has the world's highest income inequality with a Gini index of 0.707.
The U.S. Gini index has continued to increase since it reached it's low point of 0.386 in 1968. That index of 41 years ago is just slightly better than the current 0.388 for Jordan.
The U.S. has a long way to go before it might match its previous low Gini index, a very long way to go to enter the Gini index world of developed countries. As Paul Krugman has said, "Our corporate-cash dominated system ... (while of) ... a relatively recent creation, dating mainly from the late 1970's ... now that this system exists, reform of any kind has become extremely difficult." The probability of significant improvement of income inequality in the U.S. is slight to nonexistent when the trend is in the wrong direction.
During the past 30+ years, the direction of socio-economic mobility of the American Dream has been reversed from upward to downward. The American Dream has moved east to Western Europe.
The current U.S. economic model is that of a Corporate Plantation with Congress and Administration officials playing the part of Overseers. In a single generation, a two income earning family with children have less inflation adjusted income, after fixed costs are met, than did their single income earning parents. Middle income inflation adjusted wages today are no more than those of the mid-1970's.
While poverty increases:
Become a Fan (7 fans) -- Page 3 of 5 page(s)
.. No. 50 - MS - 0.471 - Nepal
LA's Gini index of 0.475 is exceeded by DC's 0.537. The income inequality of DC is higher than that of:
.. Belize at 0.492 or Costa Rico at 0.480 or
.. El Salvador at 0.524 or Honduras at 0.530 or
.. Mexico at 0.461 or Nicaragua at 0.431.
Of all Central American countries, the income inequality of Guatemala at 0.551 and Panama at 0.562 are the only ones that exceeds that of DC.
Income inequality in eleven states exceeds that of Mexico's 0.461.
Income inequality is highest in NY at 0.495, worse than Costa Rico but better than Honduras.
Income inequality is lowest in UT at 0.410, the same as Russia. The best of the 50 states is the same as the worst country in Europe .
Namibia has the world's highest income inequality with a Gini index of 0.707.
The U.S. Gini index has continued to increase since it reached it's low point of 0.386 in 1968. That index of 41 years ago is just slightly better than the current 0.388 for Jordan.
The U.S. has a long way to go before it might match its previous low Gini index, a very long way to go to enter the Gini index world of developed countries. As Paul Krugman has said, "Our corporate-cash dominated system ... (while of) ... a relatively recent creation, dating mainly from the late 1970's ... now that this system exists, reform of any kind has become extremely difficult." The probability of significant improvement of income inequality in the U.S. is slight to nonexistent when the trend is in the wrong direction.
During the past 30+ years, the direction of socio-economic mobility of the American Dream has been reversed from upward to downward. The American Dream has moved east to Western Europe.
The current U.S. economic model is that of a Corporate Plantation with Congress and Administration officials playing the part of Overseers. In a single generation, a two income earning family with children have less inflation adjusted income, after fixed costs are met, than did their single income earning parents. Middle income inflation adjusted wages today are no more than those of the mid-1970's.
While poverty increases:
A retired MBA, I am a former corporate ideologue, former 3rd party advocate and current curmudgeon. While a continued supporter of a 3rd party, I have concluded their efficacy cannot be demonstrated until our form of Government is changed to (more...)
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