Tuesday, May 28, 2013

Two on inequality

This experiment must be depressing for Marxists:
"However, attacks by the poor on the rich were only a minority of all attacks - 619 of the 2346. Almost as often (509 times), the poor class attacked their fellow poor, with most of those attacks being upon people poorer than themselves. And most of the attacks upon the rich came from other rich folk."
From a study reported in VoxEU:
"Two-hundred years ago, cross-country differences in income were relatively small. European countries and Western offshoots, what Maddison (2004) called Western countries, were on average 90% richer than the rest.1 By 2000, this income gap had grown to 750%." 
The paper suggests that this may be due to slowness in the adoption and penetration of technology.

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