No matter what you think about wealth distribution in America, odds are you are incredibly wrong. A Harvard business professor and economist surveyed 5,000 Americans about wealth distribution. Using quintiles, 92% picked an ideal ratio that is far more equitable than reality. To make matters worse, what the surveyed Americans think the distribution is these days is incredibly off the mark. What is telling is the difference between what people think the bottom 40% of Americans have versus the actual numbers. It is barely even visible and is far below what Americans think they have. Expand it slightly and the bottom 60% of Americans barely go beyond what we think the bottom 20% have.
92% of Americans Are Wrong About Wealth
- Knowledge Is Power And Power Equals Wealth Attainment
March 7, 2013 1:24 pm est