Median American wealth still lags many peers

Credit Suisse does an annual analysis of global wealth that I have written about in the past. Today, Paul Neufeld Weaver sent me an infographic showing the distribution produced by HowMuch.net, a financial literacy website:

(In case the html for their graphic isn’t working, below is a version from Wikipedia)

Credit Suisse caters to the super wealthy elite and their heirs, so they are never going to criticize rising inequality, but one reason why the US has lower median wealth than Canada or France is that there is higher wealth inequality in the US which means that the top 1% have a larger share of the total and the median American has a smaller share.

The US is far wealthier per capita than France or Canada according to the Credit Suisse data, but despite higher overall wealth, the US still has lower median wealth because our higher inequality in the US means that wealthy elites have a lot more of the total than in nearly all countries that have higher median wealth than the US.

Posted in Medianism

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