Carolina QuotesSo far so good. But the problem is, as in many dynamical systems, there are some delayed effects of such dynamics. ...Here are some numbers on the relative distribution of wealth in the American population. You have good data from 1983 to 2019... when we look at the percentage of households with [inflation adjusted in 1995 US dollars] net worth exceeding... Millionaires, roughly 10% of the population (7% now) increased from 3% to 7% but then growth in... classes such as decamillionaires was even more remarkable... more than fivefold, sixfold increase in the proportion of households that have 10 million dollars wealth, or more.
Peter Turchin Connected to the Carolinas
Source
25:18
- work
- Human environment across time (2023)
- year
- 2023
Cite this record
“So far so good. But the problem is, as in many dynamical sys…” Peter Turchin. Carolina Quotes, record CQ-1D2DC80395. https://carolinaquotes.com/quote/1d2dc80395
More from Peter Turchin
We need to find ways to ameliorate the negative effects of globalization... Economic inequality, accompanied by burgeoning public debt, can be addressed by making tax rates more progressive.
Let's look at real wages... wages adjusted for inflation. ...In the late 1970s there was a definite phase transition. Up to that point, for the previous two generations, the wages for both unskilled and manufacturing workers had been growing quite rapidly and almost linearly... [W]ages for manufacturing workers increased... fourfold... a quite remarkable achievement... [I]t was unprecedented in human history to see such a long-term sustained increase in general well-being. Then... the wages stagnated, or even declined. So what was the reason?
The theory represents complex human societies as systems with three main compartments (the general population, the elites, and the state) interacting with each other and with socio-political instability via a web of nonlinear feedbacks.