All right, in this video, let's quickly discuss how income inequality occurs in the U.S. and worldwide. So, income inequality, well, that's when there are different levels of income earned across households, right? Income inequality, unequal levels of income, all right? So this is a relevant economic issue, right? The rich are getting richer. The poor are getting poorer. We hear this all the time, so let's see what the levels of income inequality are here in the U.S. and around the world. So, let's just look at this real quick, just to show that it exists, right? So, notice the percentage of all households earning less than $25,000 here is approximately 25% there, and we've got 20% earning over $100,000 on average, right? This information comes from the US Census Bureau, so you can see there are unequal levels of income happening here, but it's not just the US. Let's scroll down here real quick and let's look around the world. Notice in Bolivia, so we took a ratio of the income received by the highest 20% of people to the lowest 20% of people in the country. And we see Bolivia, at the time of this survey, was the biggest culprit here, where they had a 21.9 percent difference, but not every country is as bad, right? Notice down here on the other side, we've got Japan, Sweden. They've got low levels, comparatively, of income inequality, right? Cool. So now that we see how this occurs, let's now dive into how this relates to economics, right? Let's check it out.
16. Income Inequality and Poverty
Income Inequality in the USA and Worldwide