Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Explore Wealth and Income Inequality in the World Wealth and Income Database

wid.world

Post reply on HN
Print view View original

41–50 of 248 posts

Re: Explore Wealth and Income Inequality in the World Wealth and Income Database

#41

Post by ryandrake »

11thEarlOfMar wrote: post #3

What does 'Income Equality' look like?

The way I see it is income inequality is just the derivative of wealth inequality. Opportunity inequality is the derivative of income inequality. Opportunity equality is the idea of a level playing field. When people complain about income inequality, they're really complaining about opportunity inequality, which I believe drives the bulk of income inequality. All that people are asking for is real opportunity equality.

My opportunity to succeed (which drives my potential income, which drives my potential wealth) is not equal to that of a guy whose parents are billionaires, went to private school and an Ivy League college, and has a contact list full of CEOs and high up politicians. My opportunity to succeed is also not equal to that of a guy whose parents are divorced and poor, lives in a gang-ridden neighborhood, and is stuck in the school-to-prison pipeline. The playing field is not level.

Re: Explore Wealth and Income Inequality in the World Wealth and Income Database

#42

Post by jpwagner »

dalbasal wrote: post #30
jpwagner wrote: post #20

Earlier quoted context omitted.

Milton Friedman's three categories for human equality: equality before God, equality of opportunity and equality of outcome - the second is compatible with liberty, and the third is socialism.

If we want to get into zinger rhetoric I might reply that the 1st is theocracy and the 2nd is a lie, or also socialism. If not, we might say consider all 3 (excluding the one that doesn't exist) relative. We never have absolute equality of opportunity or outcome, but we can have more or less equality.

zinger point taken, but consider:

1 - compared to a rock, all humans are equal (note: this is not a political statement and has no relationship to theocracy)

2 - if a unit of food sits on the ground between two people, they are free to behave however they want, either can choose to pick up the food or not - this is liberty

3 - given that a unit of food when found will be split evenly (by some process out of an individual's control) their behavior no longer matters - this is not liberty

Re: Explore Wealth and Income Inequality in the World Wealth and Income Database

#43

Post by twoodfin »

I think median statistics would enhance the insight available through this tool.

Averages are not particularly useful when confounded by the very shifting distributional patterns this is attempting to illuminate.

I'm the median Chinese worker. Per-adult national wealth has been exploding since 1987. The bottom 50% share of wealth and income has been plummeting, so inequality has been growing, too. But I'm a lot better off than my counterpart 30 years ago, aren't I?

Re: Explore Wealth and Income Inequality in the World Wealth and Income Database

#44

Post by Harvey-Specter »

TheAdamAndChe wrote: post #39
vijayr wrote: post #37

http://wid.world/world/#shweal_p0p50_z/US/last/eu/k/p/yearly... Does this mean the bottom 50% in the US are in the red?

Yes. Student loans, car loans, credit cards, payday loans, and mortgages make it incredibly tough to get a positive net worth nowadays. Combine the expectation a better tomorrow(the American Dream) with a declining middle class, and massive amounts of debt is what results.

Mortgages are offset in net worth calculations by the value of the home, so they shouldn't have much of an effect on net worth unless the house has lost significant value or you overpaid for it. Similar situation with car loans, although cars lost a lot of value immediately, so they could have some effect.

Re: Explore Wealth and Income Inequality in the World Wealth and Income Database

#46

Post by TheAdamAndChe »

Harvey-Specter wrote: post #44
TheAdamAndChe wrote: post #39

Earlier quoted context omitted.

Yes. Student loans, car loans, credit cards, payday loans, and mortgages make it incredibly tough to get a positive net worth nowadays. Combine the expectation a better tomorrow(the American Dream) with a declining middle class, and massive amounts of debt is what results.

Mortgages are offset in net worth calculations by the value of the home, so they shouldn't have much of an effect on net worth unless the house has lost significant value or you overpaid for it. Similar situation with car loans, although cars lost a lot of value immediately, so they could have some effect.

Right, but home values _can_ change drastically, and did at the time that the US lower class experienced a negative net worth, during the '08 financial crisis.

Re: Explore Wealth and Income Inequality in the World Wealth and Income Database

#47

Post by thaumaturgy »

Harvey-Specter wrote: post #44
TheAdamAndChe wrote: post #39

Earlier quoted context omitted.

Yes. Student loans, car loans, credit cards, payday loans, and mortgages make it incredibly tough to get a positive net worth nowadays. Combine the expectation a better tomorrow(the American Dream) with a declining middle class, and massive amounts of debt is what results.

Mortgages are offset in net worth calculations by the value of the home, so they shouldn't have much of an effect on net worth unless the house has lost significant value or you overpaid for it. Similar situation with car loans, although cars lost a lot of value immediately, so they could have some effect.

Loans aren't free. Including interest, the cost of a loan can easily exceed the value of the thing being purchased with it (in fact, it initially almost always does). Stagnant housing markets and new vehicles will both add to a person's overall debt, even when accounting for the market value of the asset.

Re: Explore Wealth and Income Inequality in the World Wealth and Income Database

#48

Post by Nicholas790000 »

COMPOSITE HACKS • If Truly you Are In Need Of A PROFESSIONAL LEGIT HACKER Who Will Get Your Job Done Efficiently With Swift Response, Congratulations, You Have Met the Right HACKERS We are a group Of Professional HACKERS , a product of the coming together of Legit Hackers from the Dark-Web, (pentaguard ,CyberBerkut , RedHack , Black Hat, Anonymous ) we have been existing for over 12 years, our system is a very loose and decentralized command structure that operates on ideas rather than directives. you can also find us on the dark web at :http://my7cic3ax7oznkvu.onion (Tor Only) Frankly speaking, I always give a 100% guarantee on any job i am been asked to do, because we have always been successful in Almost all our jobs for over 12years and our clients can testify to that . To hack anything needs time though, but we can provide a swift response to your job depending on how fast and urgent you need. Time also depends on what exactly you want to hack and how serious you are. Enough time with social engineering is required for hacking. So if you want to bind us in a short time, then just don't contact us because We can't hack within one hour,sorry. Basically, time depends on your luck. If its good luck, then it is possible to hack within one hour but, if its in the other way round, it would take few hours. I have seen FAKE HACKERS claiming they can hack in 1hr , but there is no REAL HACKER who can say this (AVOID THEM). Please Note : we have only one contact email : compositehacks@gmail.com we will be happy to have you join over 2000 satisfied clients around the world to use our services. We provide prove of job before payment We offer services like: Hacking Whatsapp account giving you access to the person's whatsapp messages and history . You can check out our Latest Whatsapp Hack video https://www.youtube.com/watch?v=7_LtFUVMcxY Initiating Bank Wire Transfers at a resonable fee and completely untracable . Hacking any smart phone giving you access to all activities on the phone like , text messages , call logs , instant messenger chats and other information.(you can use this to spy on your spouse to know if he/she is cheating on you) Hacking Facebook , Instagram , Twitter and every other social network Accounts. Hacking Websites to deface , retrive information, edit information or give you admin access . Hacking into school's websites (server) to change grades without any trace . . Hacking any email service provider like Gmail , Yahoo, Comcast , Aol , Hotmail any others . Location Tracking. Hacking and selling credit cards , amazon , walmart , paypal , bank logs . Selling of untracable phones (even the pentagon can not track our phones). . Selling of Tutorial packs for Beginner Ethical Hackers You can also contact us for other Cyber Attacks And Hijackings, we do almost All. Contact us: compositehacks@gmail.com

Re: Explore Wealth and Income Inequality in the World Wealth and Income Database

#50

Post by ForHackernews »

fragsworth wrote: post #9

Wealth inequality changed drastically between 1900 and now. According to the graph, in 1901, the U.K.'s top 1% controlled 73.8% of the nation's wealth. Today it's about 20%. I wonder what factors caused that change. Wars and emigration maybe have something to do with it?

The WWI and heavy taxation took a major bite out of the old UK aristocracy.
Post reply on HN