The debate about income inequality seems to be happening at two levels, which I'm going to label "first-order" and "top-end" inequality.

*First-order*inequality is visible in standard measures such the gini coefficient, and shows up as an increase in the gap between average and median incomes.*Top-end*inequality refers to the share of income that goes to those whose income puts them above the 99th percentile and beyond.

Continue reading "On 'first-order' and 'top-end' inequality, and why the distinction is important" »

## Recent Comments