How Poor are the Poor?

The poorest 5% of Americans are among the richest people in the world (richer than nearly 70% of other people in the world). The poorest 5% of Americans, for example, are richer than the richest 5% of Indians.

From Branko Milanovic’s book The Haves and Have Nots via Tyler Cowen and others.

Comments (6)

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  1. Ken says:

    Very interesting. It’s good to put these things in perspective.

  2. Devon Herrick says:

    It’s amazing that the poorest 5% of Americans are in the top one-third of the richest people in the World. The statistic about India is especially telling.

  3. Joe S. says:

    You’ve answered your own question. By world standards, the poor in the United States are rich.

  4. Ken says:

    There is an interesting graph illustrating the findings at Marginal Revolution

  5. jocuri says:

    things will change