Re: Backed money/Mike Sproul

["Per Gunnar Berglund" <BergP867@xxxxxxxxxxxxx>]

Henry C.K.Liu wrote (in part):
>GDP without regrad to GINI coefficient says very little about income
distribution...<

Per says:
True, and GDP *with* regard to the GINI coefficient still says very
little about income distribution, e.g. in a country like Sweden where
stock-market capital gains (which are excluded from the 'income' concept
of the GDP) amounted to some 75% of GDP in 1999. [It may turn out, by
the way, that Sweden has more to learn from the Albanian experience than
what most of its policy-makers are willing to concede.]

Secondly, the nominal income distribution is one thing, and the real
income distribution another. Britain's notoriously uneven income
distribution by European standards may be mitigated to some extent by
the relatively cheap food in that country. Sweden's income distribution
is known as equitable, but food and rent are expensive. In other words,
the GINI coefficients and Lorenz curves may not give the right picture
unless the cost of living items are also disaggregated.

Regards,
Per

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Per Gunnar Berglund
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