I love a story that has two of my favorite things, economics and candy corn. In this short audio clip the income growth of poor, middle income, and wealthy (top one percent) Americans is explained. Are you surprised by which groups income has grown the most?
This is a topic that is looked at often in Public Economics courses if you are interested. One measure of income equality is the Gini coefficient. If the Gini coefficient is 0, then income is completely equal, and if it is 1 then it is the highest possible inequality. For the record the USA has a Gini coefficient in the .45-.49 range (according to Wikipedia). In your opinion should the Gini coefficient be 0? Or, is some inequality a good thing?
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