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by T2_t2
3811 days ago
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Explain China? Or Japan? Or Vietnam? The world is not the USA. The world is 7 billion people, in countries and cities of varying economic outcomes. While income inequality is rising between inhabitants of the first world, global income inequality is shrinking. Specifically, the gap between Brooklyn, Beijing and Botswana is shrinking, even as the gap between individual citizens is rising. And the biggest gap of all - the gap between 21 meals a week and < 21, is shrinking rapidly. As much as we bemoan great wealth compared to middle-classness, this gap - the gap between the never-hungry and the sometimes hungry - is IMHO the single biggest gap of all. |
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Just because you can find some examples where economic normalization is occurring doesn't mean that excessive wealth concentration isn't killing more opportunities than it creates.