Much has been made of income inequality in the United States this election season. Income inequality exists in the United States, more so than almost any other developed nation. Around sixty years ago, America’s Gini coefficient–the best measure of income equality, where zero represents the least inequality and one the most–was .37. Today, it is .45.
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Riffing off of Lord Acton’s quote on liberty and good government, I came up with an analogy that was well-received at last month’s inaugural Acton on Tap.
In his essay, “The History of Freedom in Antiquity,” Acton said the following:
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