Wealth inequality can indicate a rough economy and can even signal a poor quality of life for anyone who isn’t in a nation’s 1% of the richest population. The team at Madison Trust Company did some comprehensive research to determine which countries have the largest and smallest wealth gaps. They made the rankings based on how much of the country’s income is earned by the top 1%.
Here are the countries with the smallest wealth gaps, meaning they have the most egalitarian economies:
- Norway – 6.87%Slovakia – 7.07%North Macedonia – 7.45%Belgium – 7.45%Czechia – 7.61%Montenegro – 8.04%Macao – 8.21%Albania – 8.33%Kosovo – 8.35%Guinea – 8.63%
Based on the team’s extensive findings that list every nation in the world, Norway has the most equal economy in the whole world. Norway also boasts a high standard of living and lots of government safety nets for citizens, so it’s no surprise that they’ve striven to reduce income inequality rates.
infographic by: www.madisontrust.com
