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3 days ago · The poorest 50% do not own more than 5% of total wealth in any country on earth. As important as they have been, advances towards reducing inequality in the 20th century mainly concerned the ...
Mar 31, 2022 · “We have more inequality than other countries and remarkably less equality of opportunity than almost any other country,” said Stiglitz, University Professor at Columbia University, during the 2022 James M. and Cathleen D. Stone Lecture in Economic Inequality, hosted by the Institute of Politics.
Nov 30, 2020 · If inequality is an outcome of merit due to equal opportunities and thus equality of chances, then—in contrast to its threatening potential—it is something that actually should be celebrated. In general, if inequality is a market outcome, there is nothing much we can/or should do about it.
- Andrea Grisold, Hendrik Theine
- 2020
Jan 11, 2024 · What Auten and Splinter’s data suggests is that inequality is one challenge among many, which may have important implications for policy, often in surprising ways.
- Dylan Matthews
- Drawing A Picture of Inequality
- How Inequality Has Changed
- Why Care About Inequality
- What Causes Inequality and What Can Be Done
- References
The picture we draw of inequality depends a lot on how we measure it. Most discussions focus on people’s income and wealth, though these are simply easily measured proxies for overall welfare. McGregor et al. (2019) point out that, when it comes to welfare, the type of wealth matters (whether it is liquid or illiquid, earned or inherited) and that ...
Income and wealth inequality increased in most of the OECD between 1980 and the 2008 crisis, most notably in Finland, Sweden, and the UK. Nolan and Valenzuela (2019) find that, since the 2008 crisis, inequality in the OECD countries “went down or was stable as often as it increased”. But even in those countries where inequality did not increase or ...
There are several reasons. The first, often linked to notions of ‘fairness’, is that inequality matters for its own sake. Fairness is hard to pin down, but perhaps the widest agreement can be found in the idea of a level playing field, or ‘equality of opportunity’. This is closely linked to Sen’s (1985) ‘capabilities approach’ to welfare, where pol...
What, then, causes inequality, and what can be done to mitigate it? Furceri and Ostry (2019) point to important roles of the stages of economic development, demographics, technology, globalisation, fiscal policy, and structural reforms. To these, Nolan and Valenzuela add financial market influences and capital income, and Gans et al. (2019) and Enn...
Atkinson, A B (1999), “Is rising inequality inevitable? A critique of the Transatlantic Consensus”, UNU/WIDER. Baldwin, R, and B Weder di Mauro (eds.) (2020), Economics in the Time of COVID-19, London: CEPR. Breen, R (2019), “Education and intergenerational social mobility in the US and four European countries”, Oxford Review of Economic Policy35(3...
Jan 16, 2023 · Global inequality has gotten worse, with the richest 1% grabbing nearly two-thirds of the $42 trillion of wealth newly-created since 2020. Inequality is destroying society and it is not inevitable; it is a choice that reveals us as lacking in both empathy and imagination.
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Dec 24, 2018 · Recent gains against global inequality are due in part to the rise of China — and to the productive powers of that country, not its real estate prices — as well as to the recovery of Russia from its 1990s calamity.
