Timmy Elsewhere

At the ASI.

We worry too much about inequality as well as over estimating it.

1 thought on “Timmy Elsewhere”

  1. It doesn’t really make any sense. Inequality (or at least the Gini coefficient) is a statistical measure, and so you don’t have better or worse inequality.

    I think what you are trying to say is that the marginal utility of income declines with its size, and so someone on £8,000 is more better off than someone on £800, than someone on £40,000 is that on someone on £4,000. But note the gap is £36,000 rather that £7,200, so if that effect is true it has to be enormous, and also it makes a bit of a mockery of concepts such as a ‘market price’.

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