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What the Rich Won’t Tell You
“There’s nobody who knows how much we spend. You’re the only person I ever said those numbers to out loud.”
on:new-york-times  by:rachel-sherman  wealth  income-inequality  2017 
3 days ago by andrewjbates
How the aristocracy preserved their power | News | The Guardian
After democracy finally shunted aside hereditary lords, they found new means to protect their extravagant riches. For all the modern tales of noble poverty and leaking ancestral homes, their private wealth and influence remain phenomenal
aristocracy  socialmobility  wealth  review  critique  UK  Guardian  2017 
3 days ago by inspiral
The Wealth Gap Between Whites and Blacks Is Widening The myth of racial equality is having real and devastating consequences.
white racism, however, is its practical effects: a widening wealth gap between blacks and whites. Between 1983 and 2013, according to a new report from the Institute for Policy Studies, the wealth of the median black household declined 75 percent (from $6,800 to $1,700), and the median Latino household declined 50 percent (from $4,000 to $2,000). At the same time, wealth for the median white household increased 14 percent from $102,000 to $116,800. It’s an almost unbelievable contrast, and by 2020, black and Latino households are projected to lose even more wealth: 18 percent for the former, 12 percent for the latter. After those declines, the median white household will own 86 times more wealth than its black counterpart, and 68 times more wealth than its Latino one. This isn’t a wealth gap—it’s a wealth chasm.
If nothing is done, that chasm will grow larger. By 2024, “the continued rise in racial wealth inequality between median black, Latino and white households is projected to lead White households to own 99 and 75 times more wealth than their black and Latino counterparts, respectively.”
race  wealth  inequality 
5 days ago by Quercki
Global determinants of navigation ability | bioRxiv
Using a mobile-based virtual reality navigation task, we measured spatial navigation ability in more than 2.5 million people globally. Using a clustering approach, we find that navigation ability is not smoothly distributed globally but clustered into five distinct yet geographically related groups of countries. Furthermore, the economic wealth of a nation (Gross Domestic Product per capita) was predictive of the average navigation ability of its inhabitants and gender inequality (Gender Gap Index) was predictive of the size of performance difference between males and females.

- Figure 1 has the meat
- gender gap larger in richer/better-performing countries
- Anglo and Nordic countries do best (Finnish supremacy wins the day again)
- surprised China doesn't do better, probably a matter of development
- Singapore is close behind the Anglo-Nords tho
- speculation that practice of orienteering (originally Swedish) may be related to Nords doing well
- somewhat weird pattern wrt age
study  bio  preprint  psychology  cog-psych  iq  psychometrics  spatial  navigation  pop-diff  gender  gender-diff  egalitarianism-hierarchy  correlation  wealth  wealth-of-nations  econ-metrics  data  visualization  maps  world  developing-world  marginal  europe  the-great-west-whale  nordic  britain  anglo  usa  anglosphere  china  asia  sinosphere  polis  demographics  age-generation  aging  EU  group-level  regional-scatter-plots  games  simulation 
8 days ago by nhaliday
A cross-country empirical test of cognitive abilities and innovation nexus - Munich Personal RePEc Archive
In this study we analyze the relationship between national cognitive abilities and innovational output using data from 124 countries of the world. By employing cross-country IQ scores traditionally used by psychological literature to represent national intelligence, and Economic Complexity Index as a novel measure of innovation, our study shows that there is a positive connection between them. We use a variety of tests to check the robustness of the nexus. Overall, our findings indicate that more intelligent nations export more sophisticated and diverse products to the world market and thus are more innovative. Therefore, developing countries should consider investing in human capital and related institutions if they are to boost innovative capabilities and move up the technology ladder in producing and exporting sophisticated and varied lines of products. This should bring them greater economic diversity which could be a right lever in mitigating negative external shocks.
study  economics  broad-econ  psychology  cog-psych  growth-econ  wealth-of-nations  innovation  pop-diff  rindermann-thompson  diversity  human-capital  hive-mind  iq  correlation  entropy-like  wealth  the-world-is-just-atoms  🎩  econ-metrics  econometrics  world  group-level  spearhead  macro  stylized-facts  behavioral-econ  biophysical-econ  microfoundations  🌞 
8 days ago by nhaliday
What the Rich Won’t Tell You - The New York Times
We should talk not about the moral worth of individuals but about the moral worth of particular social arrangements. Is the society we want one in which it is acceptable for some people to have tens of millions or billions of dollars as long as they are hardworking, generous, not materialistic and down to earth? Or should there be some other moral rubric, that would strive for a society in which such high levels of inequality were morally unacceptable, regardless of how nice or moderate its beneficiaries are?
wealth  society 
12 days ago by stacyleekong

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