(Roughly) Daily

John Burn-Murdoch brings the data…

Where would you rather live? A society where the rich are extraordinarily rich and the poor are very poor, or one where the rich are merely very well off but even those on the lowest incomes also enjoy a decent standard of living?

For all but the most ardent free-market libertarians, the answer would be the latter. Research has consistently shown that while most people express a desire for some distance between top and bottom, they would rather live in considerably more equal societies than they do at present. Many would even opt for the more egalitarian society if the overall pie was smaller than in a less equal one.

On this basis, it follows that one good way to evaluate which countries are better places to live than others is to ask: is life good for everyone there, or is it only good for rich people?

To find the answer, we can look at how people at different points on the income distribution compare to their peers elsewhere. If you’re a proud Brit or American, you may want to look away now…

To be clear, the US data show that both broad-based growth and the equal distribution of its proceeds matter for wellbeing. Five years of healthy pre-pandemic growth in US living standards across the distribution lifted all boats, a trend that was conspicuously absent in the UK.

But redistributing the gains more evenly would have a far more transformative impact on quality of life for millions. The growth spurt boosted incomes of the bottom decile of US households by roughly an extra 10 per cent. But transpose Norway’s inequality gradient on to the US, and the poorest decile of Americans would be a further 40 per cent better off while the top decile would remain richer than the top of almost every other country on the planet.

Our leaders are of course right to target economic growth, but to wave away concerns about the distribution of a decent standard of living — which is what income inequality essentially measures — is to be disinterested in the lives of millions. Until those gradients are made less steep, the UK and US will remain poor societies with pockets of rich people…

“Britain and the US are poor societies with some very rich people,” from @jburnmurdoch.

For a different (but not altogether contrary) perspective, see Noah Smith (@Noahpinion): “No, the U.S. is not “a poor society with some very rich people” (“We’re a rich society with some very poor people…”)

For an authoritative (and fascinating) account of how we got here: “Our Ancestors Thought We’d Build an Economic Paradise. Instead We Got 2022,” from @delong, adapted from his terrific new book, Slouching Toward Utopia.

* Henry George, Progress and Poverty (whose point seems to accrue whether one comes down with Burn-Murdoch or with Smith…)

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As we ponder progress, we might recall that it was on this date in 1962 that Americans met The Jetsons; the animated series premiered on ABC (the first color series on the network). The show was scheduled opposite Walt Disney’s Wonderful World of Color and Dennis the Menace and didn’t receive much attention; it was cancelled after one season and moved to Saturday mornings, where it was very successful.

Apart from flying cars and outer-space dwellings, much of the technology of The Jetsons has become commonplace: people now communicate via video chat on flat screens; domestic robots (like Roomba) are widespread, and various high-tech devices are the instruments of our leisure. But The Jetsons broader portrayal of life is still far from commonplace: while its world is one in which capitalism and entrepreneurship still exist and technology has not changed fundamental elements of human nature, it posits social advances (e.g., George Jetson works an hour a day, two days a week) that haven’t accrued and a society– no people of color, no working mothers, no single parents, no gay marriage, no poverty– that seem (to put it politely) quaint. Still, Smithsonian‘s Matt Novak, in an article called “Why The Show Still Matters” argues, “Today The Jetsons stands as the single most important piece of 20th century futurism… It’s easy for some people to dismiss The Jetsons as just a TV show, and a lowly cartoon at that. But this little show—for better and for worse—has had a profound impact on the way that Americans think and talk about the future.”

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And we might agree with  Andrew Womack (@Womack) and Rosecrans Baldwin (@rosecrans) that “it is a special pleasure to link this year after year: “it’s decorative gourd season, motherf*ckers.”