Wednesday, August 27, 2014

So useless we can’t even “become unequal” ??

Tyler Cowan at Marginal Revolution notes….

I sometimes say it is coming first to Israel and Singapore (and England?), but the Kiwis are a different case.  Eric Crampton quotes from an NZ Ministry report:

Overall, there is no evidence of any sustained rise or fall in inequality in the last two decades. The level of household disposable income inequality in New Zealand is a little above the OECD median. The share of total income received by the top 1% of individuals is at the low end of the OECD rankings.

You also will note that New Zealand has been a steady under-performer in terms of economic growth, despite a lot of good policy decisions.  This has helped keep income inequality down.

It does rather show that if you grow slowly enough, or not at all or decline rapidly – you can have all the equality you want……

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