Originally Posted by
Relaxed
I would suggest that wealth inequality has increased but at the same time most (but not all) of NZ is actually better off.
on better off, take investing. So many things are cheaper, or more readily available.
I can invest on the US markets for USD 1 minimum per trade (ASB is $USD 90 per trade)
using data gained for free from numerous sources.
This is easily the best it has ever been
on wealth inequality, I often wonder what the measurement is.
at the extremes it is ridiculous. (Elon Musk compared to a NZ beneficiary).
but in the middle it gets more murky (absolute dollars amounts compared to percentage difference compared to the mathematics of percentage growth)
one thought that was given to me recently is that China had almost universal wealth equality 20 or 30 years ago. almost everyone was extremely poor.
they have now embraced capitalism to a large degree and wealth equality has been completely destroyed.
However, the average person (and many of the poor) are actually economically better off than the previous model.