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Fractal Inequality in Wealth: Biggest Among the Richest

Sunday, February 16, 2014   (0 Comments)
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Fractal Inequality: Big Divergence Among Wealthiest

While the incomes of the top 1 percent of American households have pulled away significantly from those of the bottom 99 percent, an even larger gap has emerged at the very top of the scale. A New York Times story by Annie Lowrey reports economists are calling it fractal inequality. Researchers have found that in 2012, the average household in the bottom 90 percent of the income distribution earned about $30,997. For the average household in the top 1 percent, the figure is $1,264,065, and for the top 0.1 percent, about $6,373,782. Fractals are forms that have similar properties and patterns at the macro and micro level.

The economist William Easterly has written about fractal inequality in wealth, and represented his findings in charts and graphs. Frank A Pasquale 111 of the University of Maryland Francis King Carey School of Law and Yale University has written about access to medicine in an era of fractal inequality and fractal inequality in politics.

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