Do @AOC @SenSanders @SenWarren know how the rich got rich?



Nozick on envy, resentment and just deserts


% of top incomes from wages, salaries and pensions

Everybody from the top 10% to the top 0.01% have to work for their living these days with much of their income coming from wages.


Source: The World Wealth and Income Database.

@MaxCRoser the impact of the top 1% on Swedish economic growth

A fall in the share of the top 1% of total Swedish total incomes was in tune with the emergence of a new word in the English language which was Swedosclerosis. That was the long stagnation in the Swedish economy in the 1970s and the 1980s with Swedish economic growth well below that in the trend rate of growth in the USA. Only after an increase in the top 1% share in Sweden did economic growth start recovering to trend.

Source: Computed from OECD StatExtract and The Conference Board. 2015. The Conference Board Total Economy Database™, May 2015,

In the chart above, a flat-line in real GDP per working age Swede is growth at the trend rate of the US economy for the 20th century which was 1.9% per year. A falling line is Swedish growth below trend, a rising line is growth above that trend rate of 1.9% in Sweden. A trend rate of 1.9% is the trend rate of growth currently used by Edward Prescott for the USA in the 20th century.

The taxes paid by the rich, middle-class and the poorer in the USA