The Best Way to Measure Inequality

James Galbraith critiques the World Inequality Lab's approach to measuring income inequality, highlighting the limitations of using tax records and the variability in data quality across countries. He emphasizes the importance of using payroll data for consistent measures and discusses global inequality trends influenced by historical events. Galbraith addresses misinterpretations in US inequality data and the challenges in defining wealth inequality. He advocates for a shift from micro to macroeconomic perspectives in understanding inequality, stressing the need for global macroeconomic policies.

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