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What is the right level of income inequality? - Anton Pytlovanyy
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In this episode, Anton Pytlovanyy and I discuss what level of income inequality creates the best outcomes for society as a whole.
Follow-up questions we discussed included:
3:00: Why do you think inequality will continue to get worse over time?
3:50: Why did you pick this question to talk about?
6:25: Is the end goal that we want people to be happy?
14:30: Let's say you have a society that's very equal in terms of income. Will people just find other metrics to compare themselves to others on (i.e. fitness level, etc.)?
16:30: If everyone made the same amount of money, would people still choose to be doctors given it requires more work than other jobs? Would people still become doctors because it's rewarding to help people?
26:25: How do you get people to compare themselves to others less?
30:40: Are people's perceptions around what is 'deserving' changing? Are we moving towards a direction where people appear to be less 'deserving' of their success?
38:40: Discussing the Ultimatum game - what is the minimum percentage of the pot of money that the other participant would need to give you in order for you to not sabotage the deal?
Other relevant links:
Inequality & happiness YouTube video
How economic inequality harms society YouTube video
How economic inequality might affect a society's well-being Youtube video
Ultimatum game - Wikipedia article
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