Tag Archives: poverty

Youth Likely to Face Higher Inequality in Old Age: OECD


Disadvantages in health, education, employment and earnings are main dimensions of inequality over life course, says report. Younger generations have been experiencing more unstable labour market conditions and widening inequalities, Organization for Economic Co-operation and Development (OECD) said on Wednesday.

This contributes to widening inequality in old age, while socio-economic disparities in health status remain large, according to a report released by OECD.

“Ageing unequally is detrimental to future economic growth, particularly where inequality of opportunity locks in privilege or exclusion, undermining intergenerational social mobility and jeopardising social cohesion,” the report said.Defining ageing unequally phenomenon as an inequality that develops throughout […]

Weekend Reading: Melissa Kearney: How Should Governments Address Inequality?

Quarto Stato The Fourth Estate painting Wikipedia

Melissa S. Kearney : How Should Governments Address Inequality? : "In 2014, an unusual book topped bestseller lists around the world: Capital in the Twenty-first Century … …an 816-page scholarly tome by the French economist Thomas Piketty that examined the massive increase in the proportion of income and wealth accruing to the world’s richest people. Drawing on an unprecedented amount of historical economic data from 20 countries, Piketty showed that wealth concentration had returned to a peak not seen since the early twentieth century. Today in the United States, the top one percent of households earn around 20 percent […]

Violent Crime’s Toll on Economic Mobility


The sad fact is that American kids today may be the first generation who do not eclipse their parents’ economic status. In fact, Americans occupy two separate worlds when it comes to moving up the economic ladder. A small minority of us, anywhere from a fifth to a third who come from advantaged backgrounds, can expect economic mobility on par with any advanced nation. But, tragically, anywhere from two-thirds to 80 percent of Americans who are in less advantaged situations will see their economic prospects be as limited as those in the developing world. And it’s not just our […]

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 […]

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 […]

IMF: higher taxes for rich will cut inequality and won’t hurt growth

Excusing the

The International Monetary Fund (IMF) says it now favours higher taxes on the rich and has demolished the myth this might adversely affect economic growth.

The authoritative Washington-based think tank in its influential half-yearly monitor also argued for taxes on capital, suggesting a wealth and/or land taxes should be considered, something that will make Gareth Morgan as happy as if the Opportunities Party was in election talks, or even in parliament.

Scaremongers on the Right regularly trot out the high taxes will damage growth fable to scare the electorate and other parties against advocating a more progressive tax regime. Labour has […]

India, US, China show upward trend in wealth inequality: IMF

Vitor Gaspar, the Director of the IMF Fiscal Affairs Department, with the Fiscal Monitor report.

Global banking bodies are paying more attention to the top nations of the world, especially their finances. Despite a sharp fall in inequality around the world, the US, China and India have witnessed upward trends in its level, the International Monetary Fund (IMF) said earlier this week. Vitor Gaspar, the Director of the IMF Fiscal Affairs Department, with the Fiscal Monitor report. Photo courtesy: IMF The IMF said that despite the relevance of education, health and progress in recent years, gaps of access to quality education and healthcare services between different income groups in the population remained in many […]

Even the IMF now agrees that taxing the rich is the only way to decrease inequality

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Progressive taxation could reduce inequality in developed economies by as much as 30 per cent Conservative attacks on Jeremy Corbyn have sought to characterise the Labour leader as a ‘dinosaur’ from the bad old days of the 1970s.

It’s an ill-conceived tactic at best. An increasingly large chunk of the electorate wasn’t even born then, or, if it was, was too young to have been paying attention to current affairs.

It has little faith in the dark fairy tales of Conservative spin doctors and the latest report from International Monetary Fund ( IMF ) suggest that its scepticism is well founded, […]

Inequality increased in China, India and US: IMF


Despite a sharp fall in inequality around the world, the US, China and India have witnessed upward trends in its level, the IMF said today.

The International Monetary Fund said that despite the relevance of education, health and progress in recent years, gaps of access to quality education and healthcare services between different income groups in the population remained in many countries, including in advanced economies.

"If one focused on citizens around the world, global inequality has trended down sharply in recent decades, and that is a change from the upward trend since the beginning of the 19th century," Vitor Gaspar, […]