Income levels
I'm not here to tell you about my income and I don't want to ask about your income,
but income levels are different from country to country
and what's more, some countries have a large gap between the highest and the lowest income levels
Generally speaking, you could say that countries that have higher income levels tend to be a little more productive
They also tend to have a higher education level
Countries that have big gaps between their highest and lowest incomes
They sometimes have problems when there's a large gap between the rich and the poor
Then there's problems with distribution of wealth that means making sure everybody gets a fair share of the pie
When everybody doesn't get a fair share, then there's a problem for the poor people
They often don't have access to good education or other economic opportunities
These societies tend to be a little bit unfair
If you have a higher income level, then you can probably get a better education for your Children
And with that better education, they'll probably have a higher income level too
And it becomes a cycle
The rich get richer and the poor get poorer
So, if you look at countries across the world,
when there's a smaller gap between incomes,
then we don't have that vicious cycle where bad goes to worse
And that's one of those factors I look at, when I try to assess countries
On the other hand, I certainly want to have a little more income for myself too
And I'd like my Children to have a good education so that they can have access to higher income
There is a reasonable limit though because I think if your income is too high that creates new problems
But that's a topic for another podcast.