Tag Archives: skills

Income inequality isn’t as bad as you may think – AEI – American Enterprise Institute: Freedom, Opportunity, Enterprise


There are as many narratives about income inequality as there are papers. Over the last few days, two reports have appeared in stark contrast with one another. An 80-page note by Deutsche Bank sheds light on dramatically increasing income inequality in the U.S. and other Organization for Economic Cooperation and Development (OECD) economies.

In line with several earlier academic studies, it shows that the share of income going to the top 10 percent in the United States now exceeds 50 percent, and the top 1 percent receives about 23 percent of all income.

While all income groups have seen an increase […]

The Ugly Face of Inequality in India

The Ugly Face of Inequality in India

Income inequality in India has hit its highest level in 92 years . New figures from Credit Suisse suggest the wealthy elite of India, its richest 1%, now own 58.4% of the wealth. This makes India, often revered as a key rising economic power among the developing nations, the second-most unequal country in the world. What is behind this recent rise in inequality? And is it really a problem?

Causal Factors

Social divides in India have often been attributed to its rigid caste system. This system takes roots in Hinduism, which traditionally separated people into four groups: at the […]

Growing inequality and its repurcussions

Every Pakistani dreams of living in a society where everyone has access to quality education and healthcare, justice and healthy nutrition. Moreover, they aspire to live in a country where power and authority is shared fairly between the rich and the poor irrespective of gender, religion and class. Most importantly, every citizen aspires to live in a land where wealth is not concentrated in hands of a just few.

However, it is sad to note that the gap amongst the rich, mediocre and the poor echelons of our society is rapidly accelerating.

The rich members of our society attain a dominating […]

Barton: Valley EDCs understand importance of closing digital divide


MCALLEN, RGV – Jordana Barton, senior advisor at the Federal Reserve Bank of Dallas, says economic development leaders in the Rio Grande Valley do get the importance of closing the digital divide.

In a wide-ranging interview with the Rio Grande Guardian, Barton was asked why so few economic development corporations in the Valley make digital inclusion a central plank of their mission statement.

“I believe the EDCs do get it. I think they realize the digital divide is a structural barrier to attracting business, to upward mobility for families. We definitely know that,” Barton said.Barton was part of a delegation of […]

2017: A bad year for capitalism?


It was the year the UK stock market broke through a price barrier it set back in 1999. The unemployment rate reached lows not seen for 42 years as record numbers of people found themselves in work.

Silenced during the financial crisis, the full-throated roar of capitalism should have been deafening.

And yet on many measures, 2017 was a bad year for capitalism, the system of free-market economics.For starters it was the year it faced serious opposition.In his conference speech, Labour leader Jeremy Corbyn said that capitalism faced a "crisis of legitimacy" after the 2008 financial crash and the time had […]

Was 2017 a bad year for capitalism?

A small pink piggy bank with money pouring out of it

It was the year the UK stock market broke through a price barrier it set back in 1999. The unemployment rate reached lows not seen for 42 years as record numbers of people found themselves in work.

Silenced during the financial crisis, the full-throated roar of capitalism should have been deafening.

And yet on many measures, 2017 was a bad year for capitalism, the system of free-market economics.For starters it was the year it faced serious opposition.In his conference speech, Labour leader Jeremy Corbyn said that capitalism faced a "crisis of legitimacy" after the 2008 financial crash and the time had […]

INCOME INEQUALITY SOCIAL MOBILITY

AND ECONOMIC GROWTH*

Federico Cingano, ELS Employment Analysis Division

*Source: OECD (2015) In It Together: Why less inequality benefits all OECD Publishing, Paris.2/15• Long-standing interest in data collection and analysis • Early works → mid 1970s; regular data collection → mid 1990s• Documented the (increasing) patterns of income inequality across MCs in many publications • Latest one warns: “The gap between rich and poor is at its highestlevel since 30 yearsâ€OECD work on income distribution …Shares of bottom, middle and top incomes in total income, OECD average 1985 to 2011/12, 1985 = 10.800.901.001.101.201985 1990 1995 2000 2005 2010Traditional definitionbottom 10% middle […]

What the 2016 Election Revealed About the Limits of ‘College for All’


Photo Credit: Shutterstock / Jannis Tobias Werner For decades, attending college has been the sole recipe for social and economic mobility offered up by Republicans and Democrats alike. But the 2016 election revealed the limits of "college for all." For one, only one-third of Americans actually have bachelors degrees, as Joan Williams points out in her new book, The White Working Class: Overcoming Class Cluelessness in America . Williams, a Distinguished Professor of Law, UC Hastings Foundation Chair, and the founding director of the Center for WorkLife Law at UC Hastings College of the Law, argues that higher education […]

Shocking Statistics Show Just How Rich America Is


Unlike the majority of countries, those in America enjoy the promise of economic mobility regardless of where they stand on the economic ladder.

In fact, when you see statistical analysis about how much wealth “the top 1%” has, or how well the “top 20%” is doing relative to the “bottom 20%” over time, we’re comparing people to themselves at different stages at their lives, not rich and poor.

How often have you seen a headline playing off the “the rich get richer and the poor get poorer” motif? We’ll hear that the top 20% (but more often the much maligned top […]

Education reduces income inequality

com/locate/econedurev Can education expenditures reduce income inequality? Kevin Sylwester* There are many ways to think about income inequality. This paper reexamines the effects of education on inequality through a comprehensive meta-regression analysis of the extant empirical literature. This paper presents new results on the relationship between income inequality and education expansion—that is, increasing average years of schooling and reducing inequality of schooling. Abstract. A. Progressives talk a lot about how to encourage economic mobility, but they are leaving big gaps in their Education and the inequality there is no evidence that the recent growth in income inequality is due […]