- Median measurements aren’t very sensitive to inequality. Whether Warren Buffet has a billion dollars or ten doesn’t affect the median. He still balances exactly one person lower than the median.
- The figure here is wealth, not income. When it comes to income, the US is actually #6. The reason Americans don’t accumulate as much wealth is that our houses are considerably cheaper, probably because many states have looser zoning rules than a lot of the rest of the world. My six bedroom, two stories house in Texas is much cheaper than my mother’s three bedroom apartment in Israel. Does it mean I have less wealth, or does it mean I spend more of my income because I don’t need to spend nearly as much on housing?
h/t Diana Povero