Is There a Difference Between the Rich and the Poor?

The UK is at 34% China's at 50% the US is 42% Finland's at 25%. And this this often quoted case of like the richest 20% having 80% of the income. That gives you a genie coefficient of at least 60%. So it gives you some sense of sort of where everything is and globally it's actually like 65%. But it's actually that genie coefficient has gone up over time like in 1820 the global was 43% which I think sort of is saying that like everyone was fairly poor together. Now it's closer to that 65%, so my hypothesis is that is like specialization and globalization creates a lot more winners and losers which then leads to higher

Transcript

Play full episode

Transcript

Episode notes

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!

Get the app