Tuesday, May 03, 2011

Chart of the day

Via the Economix blog comes the latest evidence that concern with income inequality is utterly misplaced and a silly distraction from the real challenges which face our economy. It seems that growing inequality is not something unique to the US, and has increased to an equal or greater degree even in countries those on the political left would prefer to model the US after. Indeed, income inequality is up sharply in both Finland and Sweden. The country where it has experienced the most notable decline, meanwhile, is Greece, which I don't think is anyone's preferred economic model at the moment.

Let's also note Mexico's growing income inequality since 1985, which has also corresponded with the following:
The Mexican home has been transformed. In 1990, one in five dwellings had a bare-earth floor. Now only 6% do. Virtually all have electricity, whereas 20 years ago one in ten went without. A tenth still lack sewerage, but this is better than the figure of one in three in 1990.
The poor dears -- don't they know they were better off back in the 1980s?

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