If I’m correct in saying that the chart shows a country’s GDP and the amount of billionaires that it has then it’s no surprise that the US is at the top of the chart from 2006 to 2012. But China is fast approaching.
It is interesting to see how the United States has been on top in regards to containing the most billionaires from 2006 to 2012. However India as well as China seem to be growing in this regard far faster than United states is. That being said we still far more even with this rapid expansion from China and India.
The U.S. has garnered itself thorught the current structure and have capitalized on as many monetary oppourtunities as possiblem, raising the overall GDP and amount of billionaires in the country. - Maulford Smith
It's really interesting to look at the relatively huge number of billionaires that represent the US bubble, and then look at the corresponding gini index value. The US lies at .36 inequality, which for an indistrialized nation is not that great. However, when looking at the mass collection of wealthy the nation harbors, I'm surprised the gini index value isn't higher. Though we know there is a large income gap in the nation, the graph suggests that the average American earns more than we might expect, as the individual GDP is also the highest on the graph.
While the United States is still the leader in terms of billionaires and millionaires per county, there are plenty of countries quickly catching up such as China and India. Eventually, they will catch and surpass the United States or someone will, as the rise and fall of super powers is inevitable and we are running out of the things that set us apart. Although, we still have some time at the top and will remain the leader in the world on a multitude of issues for the forseeable future, we will need to rely on innovation to help us remain here longer and thus more people will become super rich. However, this will in turn cause more inequality based on who has great ideas and who doesn’t, but that is indeed a part of capitalism. Through education, we can help give more people a better shot at a good slice of the Pie.
GDPs across the world seem to stay mostly constant as you go through the years on this chart; countries such as Japan and Germany are still high up, while the US still houses a disproportionately large amount of millionaires and billionaires. Just about all countries rise at least a small amount. Interestingly, both China and India rise a significant amount over the years in terms of GDP, so it will be interesting to see what this means for their future.
If I’m correct in saying that the chart shows a country’s GDP and the amount of billionaires that it has then it’s no surprise that the US is at the top of the chart from 2006 to 2012. But China is fast approaching.
ReplyDeleteIt is interesting to see how the United States has been on top in regards to containing the most billionaires from 2006 to 2012. However India as well as China seem to be growing in this regard far faster than United states is. That being said we still far more even with this rapid expansion from China and India.
ReplyDelete-Matt Fera
The U.S. has garnered itself thorught the current structure and have capitalized on as many monetary oppourtunities as possiblem, raising the overall GDP and amount of billionaires in the country. - Maulford Smith
ReplyDeleteIt's really interesting to look at the relatively huge number of billionaires that represent the US bubble, and then look at the corresponding gini index value. The US lies at .36 inequality, which for an indistrialized nation is not that great. However, when looking at the mass collection of wealthy the nation harbors, I'm surprised the gini index value isn't higher. Though we know there is a large income gap in the nation, the graph suggests that the average American earns more than we might expect, as the individual GDP is also the highest on the graph.
ReplyDeleteWhile the United States is still the leader in terms of billionaires and millionaires per county, there are plenty of countries quickly catching up such as China and India. Eventually, they will catch and surpass the United States or someone will, as the rise and fall of super powers is inevitable and we are running out of the things that set us apart. Although, we still have some time at the top and will remain the leader in the world on a multitude of issues for the forseeable future, we will need to rely on innovation to help us remain here longer and thus more people will become super rich. However, this will in turn cause more inequality based on who has great ideas and who doesn’t, but that is indeed a part of capitalism. Through education, we can help give more people a better shot at a good slice of the Pie.
ReplyDeleteGDPs across the world seem to stay mostly constant as you go through the years on this chart; countries such as Japan and Germany are still high up, while the US still houses a disproportionately large amount of millionaires and billionaires. Just about all countries rise at least a small amount. Interestingly, both China and India rise a significant amount over the years in terms of GDP, so it will be interesting to see what this means for their future.
ReplyDelete- Brian Kang