Saturday, April 23, 2016
Distribution of Wealth
Both Adam Smith and Karl Marx have their own opinions about the human nature. Based on these opinions, they form their ideal society. One of the main aspects to be discussed creating an ideal society is the economy. There are terms, calculations, charts etc. that help us better model the economy. However, most of the time these fail to address the common people, but there is a single term that I think we can all understand: distribution of wealth. Nowadays, everywhere in the world there are discussions about whether the wealth is distributed fairly or not. I think it is a fair discussion, since the rich, a minority, holds most of the economic power. For example, in the US, 1% of the society is believed to hold the 40% of the entire nation's wealth.
Here is a video showing the wealth distribution in the US.
Wealth Inequality in America
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