: How poverty is decreasing and income inequality increasing at the same time?
In: Economics
A gap can get bigger by the edges moving further away, or by more of the middle between them disappearing.
Even though poverty may be decreasing, fewer people are doing ‘well’ and the ‘middle class’ is disappearing. Meanwhile the people who are doing absurdly well are doing even better than ever.
Think lots of ‘not in poverty, but not wealthy’ people and a couple of mega billionaires versus a general population of well off people, some very poor people, and some rich people, which is more like what existed 40 years ago
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