WHY NOBODY IS POOR?, What DENMARK HIDES

The United Nations World Happiness Report ranked Denmark as the happiest place on earth. The report studies 156 countries for their level of happiness according to six factors: gross domestic product per capita, social support, healthy life expectancy, personal freedom, charitable giving and perceived corruption.
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Among the prominent places, Denmark is considered the best country to do business, it has one of the most powerful welfare states and it is the best country in the world to live in if you are a woman.
But all is not as it appears on the surface. According to new figures from the national statistician Danmarks Statistik, wealth disparity continues to widen in Denmark.
The numbers reveal that the richest 10 percent in Denmark own up to 70 percent of the rest of the population combined and that gap between the richest and the rest is growing.
The figures confirm a growing economic imbalance in Denmark, in this way people with bad finances will not be able to move up and through the social levels and the gap will be accentuated.
Denmark is the model. It is not clear exactly why, but in Europe and even in the rest of the world everyone cites the Nordic country as their role model, as if all roads lead to Copenhagen.
But there are some points on which it is necessary to shed some light. In Denmark there is no minimum wage, severance pay is practically non-existent, the employer does not pay social contributions and its tax system is characterized by tremendously aggressive consumption taxation. In addition, the pension system is based on a small public benefit complemented by a private pension.
On the one hand, it is true that Sweden, Denmark, Norway and Finland are among the European countries with greater income equality. Denmark's Gini coefficient in terms of income is 27.5, a really low figure that implies equality.
But it must be borne in mind that when we talk about equality of income, there may be a temptation to mentally equate it with wealth. And it is not like that. There is a great difference between the classification of countries in the Gini Index according to income or wealth.
And this is what is hidden when talking about Denmark. It is the most unequal rich country in terms of the wealth of its citizens. Its ratio is 89.3%, compared to, for example, 67.1% in Spain. This means that in the Nordic country everyone earns more or less the same, but some are much richer than others.
In fact, almost all rich countries are much more unequal than ours in terms of wealth, that is, if you measure the assets that the inhabitants own. By the way, this inequality does not have to be negative.
Although in the public debate the word "inequality" is usually associated with all possible evils, the truth is that the most prosperous societies are those that allow their citizens to save more and build a heritage that grows as they age.
In reality, inequality has a lot to do with age and the ability to generate value. Where salaries are high and citizens save, it makes some sense for wealth to grow over the years.
How poor or rich these people really are, regardless of what their bank account says, in Northern Europe, where the State charges very high taxes to its citizens in exchange for social services, is the subject for another video.
Reasons of economic history make possible this situation of underhanded inequality that bothers nobody because the income is fair, everyone lives relatively well and the state helps them.
But it is worth asking what would happen if there were a change in the model, when in the starting conditions some were millionaires and others only had their workforce and little more than the clothes on their backs as assets.
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🔎 I am Gustavo Llusá, Argentine, after traveling for several years in more than 60 countries, I settled in Latvia where I got married and learned to know another way of life, on the other side of the map.
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