Why are the richest countries the most unequal in riches?

[OddBeMe]

US, UK, etc, high GDP…high wealth inequality. Why?

Updates

1 y

Prick us, do we not bleed? Wrong us, shall we not revenge?

[Effably]

It might be important to note that counties ran very poorly or by governments that are overly corrupt have greater inequality than the more successful rich countries do. However after disasterous management the greatest inequality is indeed amont the financially successful ones.

The reason is fairly simple, albeit complex if we attempt changing it, a market economy by default is a competition and as such have winners and losers.
The issue happens a few generations down the line. The very start of equal opportunity is after all quite fair and tends to be the assumption when we discuss market economies.

After a few generations the winners and losers become apparent and inherit their advantages and disadvantages. But having many poor people, such as the U. S with about 17-18% below the poverty line, does not make a country less rich. Rather from a strict economical view it is quite positive to have a portion of your workforce be desperate. And so there is no real incentive to solve the 'problem'.

Tackling inheritance, which is the true issue of capitalism, is also not an easy thing to do and one for which there is little support. Because who does not want to give their children a better starting point?

[Stoner710]

Because we have equal opportunity not equal outcome, We’re humans we are born with gifts some are more valuable then others LeBron James is Highly skilled at basketball he’s skill in basketball make him worth 48 million a year (last time I check that was LeBron’s salary). Some who who is skilled at building houses labor isn’t as valuable as LeBron. (That is societies choice).

vs equal outcome which china supposedly has same with North Korea and poorer countries who went down the socialist route equal out come but everyone is equally poor (except the dictator is charge making sure everyone is equally poor)

[JamesDiaz11]

Because the most developed/ richest countries are those that have created the environments to build wealth, including extraordinary wealth. Thus it's only right for there to be an extreme unequal distribution. The countries without this don't have the environments (or the talent) to create this type of wealth.

[OddBeMe]

If that’s true, the best economies all go bust. This level of inequality is unstainabke.

[JamesDiaz11]

Alright, I'm not going to insult you and say you are likely not an economics PhD, or a history buff, but I'll entertain your ignorant notion: What evidence do you have that this level of inequality is unsustainable?

[OddBeMe]

I’ll insult you by saying every economist knows rising wealth inequality destroys said economy. I found the most conservative view on the subject from the Council on Foreign Relations. Basically a “For GOP by GOP” think tank.
www.cfr.org/.../us-inequality-debate

[Leopard23]

Simply greed, using their money the uber wealthy buy politicians of all parties to represent their intrests and accumulate more money.

A big moment for this was the banking crisis. They knew they could crash everything and the government would use taxpayer money to bail them out and the could move more of the money up.

[Anonymous]

Most of the time, third world migrants come into the country and contribute towards that gap.
For example, Mexican migrants come into the USA with the intentions of just being safe and working to live in poverty. The USA poverty is considered very rich and lucky for a Mexican.
So their primary goals are not to be rich but to be happy and safe basically. Compared to Americans that are already born in America and are very privileged, their goals are to become rich or a nfl player or a nba player or Hollywood actor or politician or a lawyer. Their goals are totally different.

[NathanDavis]

that's how they got rich in the first place?

[gorydetails]

As opposed to Cuba where everyone is poor?

[OddBeMe]

I never said everyone should be anything. But studying economics, our economy is in deep shit. This level of inequality is unstable. Perhaps read about the French’s Reign of Terror.

[gorydetails]

You can thank the guy you voted for

[OddBeMe]

Right 30 years of economic mismanagement and its Bidens fault. That was some 2 years….

[gorydetails]

He is a massive fuckup

[OddBeMe]

How so?

[gorydetails]

Let’s see. Billions in equipment for the Taliban, massive inflation, decimating our strategic reserves, keeping the covid sham going, lying continually, bankrupting the us to launder money through Ukraine, allowing an invasion of our southern border, passing executive orders he knows are illegal, and being mentally deficient. Basically the policy is AMERICA Last I guess that’s why you shitlibs like him

[OddBeMe]

Funny that’s what we said about trump. Save the afghan shit. That was a bad pullout but doubtful it was billions of equipment we lost.

The rest is bullshit. Congress is approving Ukraine funds, this ain’t Iran/contra.

[gorydetails]

Lol. You can call it bullshit, but you’re wrong.

[OddBeMe]

Show me evidence.

[gorydetails]

How much are a dozen eggs?

[OddBeMe]

I don’t know. I pay Instacart double plus a decent tip for someone to deliver organic eggs to my door.

Grocery stores are where the worst people congregate and I feel infected by them. :)

[gorydetails]

Yes, we know you’re mentally ill. No need to keep stating it. You’re the guy wearing a mask alone outside.

[OddBeMe]

Yeah I’m the strange one buddy. Keep believing that.

[gorydetails]

Normal people don't still wear masks outside, lol.

[OddBeMe]

Neither do I. I’ve been vaccinated.

[gorydetails]

lol, so?

[PatriceONeal]

Go have another drink communist.

[OddBeMe]

Wow, I bring up simple economics and I’m called a commie. You right wingers are such snowflakes.

[PatriceONeal]

You didn't deny it.

[PatriceONeal]

Hey odd, capitalism raises more people out of abject poverty than any other system. Why are you always asking these hyperfocused questions about "inequality". You don't even know what that means. You'd prefer everyone be on minimum wage so long as they're equal. It's beyond naive.

[PatriceONeal]

People like you end up destroying the individual and handing property rights to the government. You have to answer for billions of eldeath before you can bitch and moan about inequality. You are so obsessed with your Marxist utopian dream you don't realize it is an impossibility. You can't force ambition on people and you can't tell people how much money they're allowed to make. Just admit you're commie scum and fuck off to your bottle.

[OddBeMe]

Always tell a snowflake when they post more than once when bitching….

[PatriceONeal]

Cowardly avoiding my posts like usual. You communists are less than human.

[Anonymous]

Because that how they are the richest