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Income is a flow variable of economics and measures the amount of money earned over a period of time whereas wealth is a stock variable and is the net worth (total assets - total liabilities) of a person defined at a specific point of time.
In US, the Gini coefficient(which varies for 0 to 1, with 0 representing complete equality and 1 representing total inequality) is an effective measure of the extent of income and wealth inequality. Over the years the gini index for wealth has been greater then that of income.
Hence, wealth is more unevenly distributed in the US.
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∙ 14y ago
Wealth is distributed more unequally in the US compared to income. The top 1% of households in the US hold a disproportionate amount of the nation's wealth, with a significant wealth gap between the richest and poorest individuals. This inequality in wealth distribution has long-term implications for economic stability and social mobility.
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idk do u no?
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