Thursday, December 19, 2013

The United States Economy is Very Unequal

This is data from the Organization of Economic Development and Cooperation, the rich country club. It is limited to data on OECD members.

While the United States is 10th most unequal in income before transfer payments, it is second only to Chile after those payments. That is, our safety net is not working as well as other developed nations.

Chile is in fact a much poorer nation than the rest. It was under the right wing Pinochet dictatorship from 1973 to 1990, Michelle Bachelet was recently elected President of Chile, and apparently she will try to overhaul the Constitution dating back to Pinochet. Her economic policies will apparently seek to maintain economic growth while improving health and education services.

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