Sunday, December 18, 2011

Quote of the Day

"We conclude that in the Roman Empire as a whole, a ‘middling’ sector of somewhere around 6 to 12 per cent of the population, defined by a real income of between 2.4 and 10 times ‘bare bones’ subsistence or 1 to 4 times ‘respectable’ consumption levels, would have occupied a fairly narrow middle ground between an élite segment of perhaps 1.5 per cent of the population and a vast majority close to subsistence level of around 90 per cent. In this system, some 1.5 per cent of households controlled 15 to 25 per cent of total income, while close to 10 per cent took in another 15 to 25 per cent, leaving not much more than half of all income for all remaining households.

Thus, in Rome the top 1.5% controlled 15-25% of income while in the United States around 2007 the top 1% controlled 23.5% of income thus suggesting slightly more inequality in the United States. Scheidel and Friesen calculate a Roman Empire gini coefficient of .42-.44 again perhaps slightly less than the U.S. coefficient of around .4-.45 depending on source."

- via MR

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