Economic Reality vs. Political Rhetoric | The Aneesh Karve Series | Episode 5 (WiM272)
The "What is Money?" Show
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The Uncertainty of Income Inequality
Income inequality, income mobility and opportunity are actually all the same thing. And if we had a genie coefficient of zero, everyone would never be able to improve their lot in life. The upper 1% or the 0.1% or 0.01% are turning over faster amongst one another than anyone else in the economy. They're turning over at the fastest rate. America has so much income mobility that if you're in the bottom fifth, the lowest 20% of earners will at some point in their life be in the top category.
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