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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An interesting report in The Economist on the rise of flashy and free spending entrepreneur “gazillionaires” in India and China and how they are perceived:

In much of India, life is getting perceptibly better each year. Wealth per person has vaulted by 150% in the past decade, from $2,000 to $5,000. Many Indians think the nation’s entrepreneurs deserve some of the credit. In Dharavi, a slum outside Mumbai, an illiterate mother called Aruna sits in her tiny one-room flat, which is home to ten people. Asked how she feels about the rich, she says: “They have worked hard. And we must work hard, too.” Her eldest daughter has a job entering data at a bank. The next one is studying diligently. The family may be near the bottom of the ladder, but it sees a way up.

Read more on What Indians and Chinese make of their tycoons…