Monday, March 12, 2012

Less Equality in the United States than in Europe

Source: The Economist

The United States used to be known as the "land of opportunity". Now the distribution of income is less egalitarian than in Britain, France or Germany. Note too, that inequality is increasing in the United States (and Germany), but is not doing so in the UK nor France. The increasing inequality of income suggests that the rich are capturing more and more of the income, and thus there is less and less for the poor to acquire to improve their lot. Countries of Latin America were long perceived to grow slowly because their economies were to dominated by the rich, who were conservative to preserve their economic advantages. That may happen in the United States as well.

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