When people analyze wealth they tend to look for wealth. I instead, thanks to Argentine entrepreneur and dear friend Maximiliano Fernandez who once educated me on this matter, think differently. I think that the richest countries are those with the richest poor. Why? Because if the poor are not doing that badly then the rest are all doing better.
Today I found out that the World Bank keeps the closest proxy to this assertion.
Their analysis shows the percentage of national income that the poorest 20% of the population have and proves what many believe, that USA maybe the best developed country in which to be rich but it is also one of the worst in which to be poor. In general Europe and Japan have the richest poor people in the world.
Why do I care about these things? Other than the fact that I “just care”, as an entrepreneur I care because the countries with the richest poor are likely going to be the countries with the highest internet penetration among all the richest countries and therefore the best for Fon.
Now looking at the countries in which the majority of the people are poor, like China and India you can see that China Communist China is much less Communist than what it seems when compared to India. The Indian poorest quintile have about twice the share of the national income as the poorest Chinese.
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