What Is The Most Equal Country on Earth?

Income and wealth inequality are two of the most debate issues in the world of economics. In this video we look at some of the most equal countries in the world to see what they are doing right

0:00 - 2:05 Intro
2:06 - 4:30 Gini coefficient
4:31 - 6:15 Iceland
6:16 - 8:16 Government transfers
8:17 - 10:00 Laffer curve
10:01 - 15:00 Wealth inequality
15:01 Australia

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[Spectacurl]

I would love a video about the “best country to be poor” meaning the country where the bottom 10% of the population does comparatively best than other countries

[valmarusic]

Finally someone didn't confuse Slovenia and Slovakia. Very nice video)

[kirival]

0.69 = nice. Lol! Love the little touches. You also broke down the Lorenz Curve and the Gini Coefficient more quickly and digestibly than any economics professor that I've ever had.

Keep up the great stuff!

[jozefkalman]

Great video as always. I am actually from Slovakia and would not say that we can top list of most equal contries on earth. But from what you said in your video Slovakia does not have issues of Myanmar or other 3rd world countries. It is developed country that is part of EU, with decent standard of living of most citizens and solid indistries like for example atomotive. Would just like to hear more about why Slovakia topped both lists and why you still dont think it is worth explaining how it topped the lists.

[ChronologicalLogic]

Ok, legitimately, this has been the most educational video you have released in a long while, and I loved every bit of it. Others were/are mostly informative, with educational components sprinkled in between, but this one has a very strong mix of both. Once again, I really enjoyed this, thank you.
p.s.: I am not in the habit of donating, but I think this video deserves it.

[Homer-OJ-Simpson]

Income / wealth inequality is an important measure but ultimately, more importantly is how well the middle and low income are doing. Using nominal numbers to illustrate, it’s better to be a poor person that has $10, 000 (adjusted to Purchsing power) in a country with high income inequality than to be a poor person with $2, 000 (adjusted for purchasing power) in a country with low income inequality.

[Sunila]

As a teacher, I love the way your videos explain key concepts so simply and with great visuals. Good job!

[turgeliolankytoja]

"It's not worth making everyone equal in an economy if everyone is equally miserable" - love it!

[borisbs]

Sooo, when are we getting a video on Slovakia?

[tradicted]

I was a backpacker in Australia. Its an amazing country. Only thing thats annoying are all the restrictions and high prices on anything thats fun :D.

[jasonkatsambiris]

Australia also has a job market where you can feasibly become a high income earner without going to University and taking on large student loans, mining and trades jobs for example. Of course these exist everywhere. But the barrier to earning a high income feels lower here and is based on work ethic as much as qualifications.

[geoffkelly]

Its amazing to see how your channel has grown over the past year or so. I always seem to enjoy your content, So do over 2 million people now! wow.

[sebastianmorales]

This channel is unreally good. Topics that are sometimes extremely hard to teach, showed in a very reachable (and followable) way, without avoiding its intricacies. Thank you and congrats on such a great work!

[juancruzciacci]

Many people don't understand that poverty is the problem.

If earning 100 is enough to live a comfortable life, it doesn't matter if there are people who earn 300 and others that earn 1000 or 2000 as long as everyone has 100 to live.

(100 is an arbitrary number and it does not correspond to an actual currency)

Inequality doesn't matter if we all live well.
Equality means nothing if we are all poor.

[AlphaPreyPlays]

As an Australian, it's pretty amazing that I feel the biggest obstacle to becoming wealthy is my own drive and determination. Many people know roughly how to get a well paying job, but people here also want to balance their personal lives and goals and won't just pick whatever pays the most.

For example, it's a poor secret that tradesmen get paid some of the highest wages in the country, similar to doctors and bankers. Most people here would be able to complete an apprenticeship if they so wish, with training heavily subsidised by the goverment. And yet we have had a trades shortage for years, mostly because people are able and willing to choose other careers.

Which I believe is a good problem to have.

[andrasbeke]

I'd be super interested to see a series on rating fringe economics. Things most people have never heard about like Anarcho-Communism or Corporatism. I generally only hear about these from people that love them or hate them. I'd love to hear opinions from real economists on how viable they are

[wayback]

This was one of my favourite videos from you in a while. I feel like you explained a lot of core concepts very while which are also very transferable for casual(ish) conversation. Thanks

[IslandHermit]

The primary problem with wealth inequality is the inequality in political power that goes with it. Wealthy people don't even have to spend any of their wealth to influence policy decisions, they simply need to threaten to support the opposition if the government doesn't doesn't do as they ask. And what do the wealthy do with their political clout? Usually it's to push for policies that deepen inequality, creating a vicious circle. One place in particular where a wealth tax is desperately needed is in real estate. By taxing land holdings above some modest cutoff value, we could all but eliminate the speculators who squat on empty commercial and residential properties, waiting for their prices to go up. It turns out that there's something to be said for Georgism after all.

[weil]

We want equal (or similar) "opportunities" to be able to move up the social ladder--thru education, career, investments, etc.
Some people are born with a silver spoons, and some are born with disabilities and families with little wealth.
Human beings need to see "hope". So having the opportunities is the key.

[sykaax]

The reason why Australia is so successful is because it has a lot of wealth in terms of natural resources and a very small population, it can be more evenly divided because there are so many of them. But there are many countries in the world with such characteristics, but only Australia is so successful, we must admit that the politicians of Australia have built a great society. Australians don't lose this paradise =)