What’s the difference between wealth inequality and income inequality, and why does it matter?

Wealth inequality is in the news, with our friends at IPPR pointing to just how ‘unevenly divided’ wealth is in the UK. The problem is huge: the top 10% of households are 875 times wealthier than those at the bottom.

But why is there so much focus on wealth inequality – and what’s the difference between that and income inequality?

Personal wealth means a stock of valuable possessions : anything from cash under your mattress, through shares and bonds, to the value of your house or your car. Income, on the other hand, is a flow of money you receive, […]

Facing middle age without a home to call their own, Britain’s post-Brexit generation revealed by new report.

Problems with Brexit..

Problems with Brexit.. A generation faces reaching middle-age with no prospect of having a home they can call their own, a new report claims.

Rising wealth inequality, soaring debt and sky-high house prices are combining to create a vision of post- Brexit Britain in which today’s young people will spend more on housing than their forefathers but with less to show for it.

As result, for many owning a property will remain a “distant aspiration.” The rise of ‘Generation Rent’, concerns over a widening wealth gap and fears for the impact of benefit changes which could leave young social housing tenants […]

Low-paid workers have seen their hourly rate go up by just 40p in 10 years, says shock report

Pound coins

The lowest-paid workers have seen their hourly wage rates rise by just 40p in the last decade (Image: PA) Low-paid workers saw their real hourly wage rate rise by just 40p in the last 10 years, a shock report reveals today.

Grafters “trapped” in poorly-paid jobs were unable to “escape” an “endemic, vicious” low-wage cycle, according to experts.

A Resolution Foundation study for the Social Mobility Commission outlines how only one in six low-paid workers (17%) managed to permanently escape low pay in the past decade.A quarter of low-paid workers remained permanently stuck in low pay and nearly half (48%) moved […]

Colleges With the Highest Student-Mobility Rates, 2014

City University of New York campuses made a strong showing among colleges with the highest mobility rates, a measure of the percentage of all students in a birth cohort at a particular college whose parents were in the bottom 20 percent for household income, and who reached the top 20 percent for individual earnings. Seven CUNY campuses were in the top 10 for mobility rates among four-year public colleges, and five CUNY campuses were in the top 10 among two-year public colleges. Five historically black colleges and universities ranked in the top 40 for mobility rates among four-year private […]

Why We Need To Raise Taxes, Not Reduce Them

President Trump’s tax bill includes provisions to reduce tax rates on corporations, “pass-through” entities, and wealthy individuals, and removes the alternative minimum tax and estate tax. For the good of the country, particularly now, I believe we should raise ― not reduce ― those tax rates.

The additional revenue from these tax increases should be used to fund an American Dream Opportunity Trust Fund, an independent non-partisan entity charged with making American dream opportunities a reality for all citizens. This organization should be headquartered outside of Washington, D.C. and audited by the Office of Management and Budget.

This is an urgent […]

OECD: Youth Likely to Face Higher Inequality in Old Age

OECD: Youth Likely to Face Higher Inequality in Old Age

Y ounger generations have been experiencing more unstable labor market conditions and widening inequalities, the Organization for Economic Cooperation and Development said on Wednesday.

This contributes to widening inequality in old age, while socio-economic disparities in health status remain large, Anadolu Agency quoted OECD as saying.

“Ageing unequally is detrimental to future economic growth, particularly where inequality of opportunity locks in privilege or exclusion, undermining intergenerational social mobility and jeopardizing social cohesion,” the report said.Defining ageing as an unequal phenomenon that develops throughout the life course and materializes in old age, it said: “It is often the result of specific episodes […]

Neiman Marcus’ gift list for billionaires reveals the guilt that plagues America’s richest people

Neiman Marcus

Neiman Marcus Every year, Neiman Marcus releases a Fantasy Gift list with some items costing more than $1 million.

In recent years, gifts on the list have been coupled with charity donations.

The coupling of charity with absurdly pricey luxuries reveals the discomfort felt by extremely wealthy Americans in an economically divided nation. Neiman Marcus’ annual Christmas list for billionaires reveals the growing sense of guilt among the richest of the rich in America.The Fantasy Gift section has been one of the highlights of the retailer’s "Christmas Book" for more than 50 years. Since the 2008 […]

Social Inequality Research

Russell Sage Foundation

Russell Sage Foundation Seeks Letters of Inquiry for Social Inequality Research

One of the oldest American foundations, the Russell Sage Foundation was established by Mrs. Margaret Olivia Sage in 1907 for “the improvement of social and living conditions in the United States.” In pursuit of this mission, the foundation now dedicates itself to strengthening the methods, data, knowledge, and theoretical core of the social sciences as a means of diagnosing social problems and improving social policies.The foundation’s program on Social Inequality supports research on the social, economic, political, and labor market consequences of rising economic inequality in […]

Meet the new class traitors who are coming out as rich

They are a minority in this country. Their rituals are often secretive. They have their own lingo, etiquette, schools, neighborhoods, and certain places they visit, seasonally. Typically, they partially hide their identities. But in the last five years, some have started to “come out”, not necessarily in pride but simply out of civic-mindedness. What they are revealing is surprising.

Eric Schoenberg is one of them. “I pay a lower tax rate than you do, which is startling,” Schoenberg, 55, told me. To illustrate this problem, Schoenberg posted portions of his returns online. He wanted to show how much he, a […]

Small slice for poor in growing economic pie

INEQUITABLE access to assets, market and human development not only persists in Pakistan, but is also reinforced every day by a confluence of unequal relations in roles, functions, decisions, rights and opportunities.

Welfare policy, or whatever is left of it, has failed to bring significant improvement for the marginalised. Along with a rise in gross domestic product, a parallel increase in inequality has also been observed and the growth gains have been limited to certain groups with elite access to resources and market participation.

Despite decades of social policy, access to resources and opportunities continues to be determined by race, place […]