On 12/22/2012 3:35 AM, Roger Clough wrote:
Hi Hal Ruhl
Sure, wealth inequality has gotten linearly greater,
but the economy has grown much faster (exponentially),
so we are all getting richer, fairness or not.
That only means *some* of us are getting richer, specifically those that are rich. The
median income, corrected for inflation is essentially flat. And "exponential" doesn't
mean "faster" no matter what the media think. It's simple mathematics that the gini isn't
going to "grow exponentially" because it's a fraction and it's bounded by 1.0 above
(complete inequality in which everything belongs to one person).
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