To some epsilon, the Pareto Distribution describes income. There's only one parameter to a Pareto Distribution - the alpha.
In at least US income distribution, we have also a curious "bump" up the food chain in addition to what a pareto distribution would predict. Isn't that the entire nail on which income inequality hangs?
Other have also said that in terms of real, physical , tangible wealth there is no disparity - that all of the stock options and bonus plans have less physical referent than even a paycheck.
That seems to doom us to this state of affairs. Er, it would if the map was the territory, but the fact that this distribution exists implies the existence of forces that cause it. Are we then repeating the error of the Levellers with this?
In at least US income distribution, we have also a curious "bump" up the food chain in addition to what a pareto distribution would predict. Isn't that the entire nail on which income inequality hangs?
"Bump" at around $250 k in this chart: https://commons.wikimedia.org/wiki/File:Distribution_of_Annu...
Other have also said that in terms of real, physical , tangible wealth there is no disparity - that all of the stock options and bonus plans have less physical referent than even a paycheck.
That seems to doom us to this state of affairs. Er, it would if the map was the territory, but the fact that this distribution exists implies the existence of forces that cause it. Are we then repeating the error of the Levellers with this?