[ExI] the formerly rich and their larvae...

[BillK]

On Feb 9, 2008 5:28 AM, J. Andrew Rogers wrote:
>
> Did you read and understand the limitations of the Gini coefficient
> with respect to predicting properties of an economy?  That coefficient
> does not mean what many people interpret it to mean and it should
> probably be higher than it is if the economy was better structured and
> stronger (though I have not computed that -- I am guessing based on
> what I know of US economic structure).
>
> That said, we should *expect* it to correctly and healthily slowly
> converge on 1 in an economy where a) intelligence is an increasingly
> important market differentiator and 2) machine intelligence -- even
> low-grade versions -- start to play a factor in the economy.
> Intelligence, when unhindered, will strongly bias the Gini coefficient
> toward the high side.
>


The 'rich get richer' is a worldwide trend.
I have read that in the US 1% of the population now control 40% of the
nation's wealth.
So the economy could well be booming while much of the population was
becoming poorer (relatively, within their own country).

BillK