Other important factors that influence wealth and income inequality?
https://en.wikipedia.org/wiki/Gini_coefficient – here you can see both the income inequality and wealth inequality map and there are some “odd” cases such as Germany, Netherlands and Sweden which have low income inequality but high wealth inequality and then for example Lithuania or Czechia which has higher income inequality but lowe wealth inequality.
I was wondering about the difference between countries like that and what exactly causes “anomalies”, I know that there are some general studies (or US-specific) studies for example the CATO institute one, I understand the general explanation that government factors such as public spending, tax burden, laws (regulation, restrictions bans, barriers to entry), social welfare and displacement of private savings have a big impact of wealth and income inequality (of course culture and proper institutions are important too).
Unfortunately since Free Market economy is not really a thing right now and most countries have a high government involvement in their economy, I dont think I can universally explain the concept of wealth and income inequality just through broad Austrian theory.
Is there anything that Im missing? (Also if you know any good articles/studies/data about this, Id much appreciate them).
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