…wealth inequality varies greatly across countries, and there is no clear correlation with countries’ levels of income inequality.
Sweden for instance has reasonable income equality but very high wealth inequality. Many of the southern European nations are the opposite.
So which is it that matters? Is it income inequality that matters when you wish to praise Sweden over the United States, but wealth inequality that matters when you wish to argue for a wealth tax?
By the way, the distribution of housing equity is a critical factor for understanding how income variables translate into wealth variables.