Economics

One economist sketched a rule for inequality — on data he admitted was thin

In 1955, Simon Kuznets proposed that as a country develops, inequality first rises, then falls, forming an inverted U — though he flagged the evidence himself as scarce, with the 'rising' half resting on a handful of data points. The 'Kuznets curve' has since been widely challenged: several economies grew while inequality fell, not rose, and modern critics like Thomas Piketty argue there's no automatic decline built into growth at all.

Simon Kuznets, Economic Growth and Income Inequality — American Economic Review, Vol. 45, No. 1, 1955

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