Nothing can be duller than listening to an economist or other policy expert pontificate endlessly on such metrics as gross domestic product, stock market prices, employment, and consumer confidence. Most of all they talk about GDP: Rising GDP is good; falling GDP is bad. But as a measure of economic activity, GDP is what it says it is: a gross number. It doesn’t measure how money and wealth circulates through a system, what use it is put to, how the rewards of its use are distributed. It just counts how much comes out of the spigot at the end […]
View Original: When Economic Growth Indicates Failure
Would you consider yourself middle class? Chances are, whether you’re wealthy, lower income, or actually somewhere in the middle, you still identify as middle class. There are plenty of reasons why that is–“middle class” might be the most used word in modern politics–but a new University of Wisconsin study posits that it could also be because ads are telling us we’re middle class.
The study “Marketing Social Class and Ideology in Post-World-War-Two American Print Advertising” appears in the Journal of Macromarketing and reviewed more than 1,300 randomly selected print ads from 1950 to 2015. It found that the middle, upper […]
View Original: The Ad Industry Keeps Selling An American Dream That Most Aren’t Living
Khazanah Research Institute’s director of research, Allen Ng, delivers his presentation during Kazanah’s seminar on inequality and Income distribution in Kuala Lumpur January 18, 2018. — Picture by Yusof Mat Isa KUALA LUMPUR, Jan 18 — The disparity of incomes between the rich and the poor has been narrowing since the 1970s due to good governance and sound economic policies, a researcher said today.
Allen Ng from Khazanah Research Institute said the index to measure this — Gini coefficient — reduced to 0.39 last year from 0.51 in 1970.
The smaller the figure, the narrower the disparity of incomes.“One reason why […]
View Original: Gap between rich and poor shrinking due to good policy, researcher says
Wealth Inequality in America 7.4 Income and Wealth Inequality: Crash Course Economics #17 8.7 Wealth Gap: Last Week Tonight with John Oliver (HBO) 7.4 Noam Chomsky on Economic Inequality 8 Title : Wealth Inequality in America
Summary : Infographics on the distribution of wealth in America, highlighting both the inequality and the difference between our perception of inequality and the actual numbers. The reality is often… Title : Income and Wealth Inequality: Crash Course Economics #17
Summary : Inequality is a big, big subject. There’s racial inequality, gender inequality, and lots and lots of other kinds of inequality. This […]
View Original: Economic Inequality
Above: An Innovation Collective meeting Over the past few years, economic inequality has become a topic of focus for economists, politicians, and leaders of industry. Tech titans are starting to discuss concepts like the future of capitalism , universal basic income , and wealth redistribution as the technology they’ve developed starts to automate more and more jobs.
New York, Los Angeles, San Francisco, and Seattle have seen average wages rise at an unprecedented rate, while smaller towns across middle America have, in many cases, lost jobs and businesses . This has been compounded by a mix of highly skilled talent […]
View Original: Community-led R&D can power job growth in small-town America
AND ECONOMIC GROWTH*
Federico Cingano, ELS Employment Analysis Division
*Source: OECD (2015) In It Together: Why less inequality benefits all OECD Publishing, Paris.2/15â€¢ Long-standing interest in data collection and analysis â€¢ Early works â†’ mid 1970s; regular data collection â†’ mid 1990sâ€¢ Documented the (increasing) patterns of income inequality across MCs in many publications â€¢ Latest one warns: â€œThe gap between rich and poor is at its highestlevel since 30 yearsâ€OECD work on income distribution â€¦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 […]
View Original: INCOME INEQUALITY SOCIAL MOBILITY
In December, as Congress enacted a gigantic tax cut for the richest Americans, moved to increase the taxes, over the next decade, of those making under $70,000, and reduced the health care coverage rolls by millions, Philip Alston, the United Nations rapporteur on extreme poverty and human rights, toured the country to determine whether American poverty undermines human liberty. He didn’t have much trouble coming to a conclusion.
Alston’s report finds that the United States is, by almost all measures, the world’s richest country. It also has become, broadly speaking, the “most unequal society in the world.” Our “exceptionalism” is […]
View Original: Gene Nichol: In the U.S., the inequality gap is ever widening
Cornelius Vanderbilt was one of the most successful capitalists in history, parlaying a US$100 loan from his mother in 1810 at the age of 16, into a fortune equivalent in today’s money to over US$200 billion. That’s double Amazon founder Jeff Bezos’s fortune of US$100 billion.
As Peter wrote recently , Vanderbilt’s fortune was ultimately squandered. He made a fatal error – he never bought real estate, the core foundation of multi-generational wealthy dynasties. Edelweiss Journal Photo by Monkey Mash Button Jeff Bezos, on the other hand, isn’t making that mistake. Bezos already owns 400,000 acres of land… that’s twice […]
View Original: Increasing Inequality Could Cause Serious Political Instability
Australia has avoided recession but new research by a progressive thinktank suggests low wage growth and unequal spending on the "infrastructure of opportunity" threaten to entrench wealth inequality.
The Labor-aligned McKell Institute’s report, Mapping Opportunity: a national index on wages and income , found the income gap is widening and that the opportunity to earn differs markedly across the country’s 150 federal electorates. Treasurer Scott Morrison has rejected Labor claims that inequality has reached a 75-year high. Photo: Alex Ellinghausen And it found that along with the traditional drivers of social mobility, such as education and training, and locality, access […]
View Original: Flat wages to worsen intergenerational inequality: thinktank
The city of Boulder’s a happy place, with a highly educated citizenry, a beautiful environment, and a booming economy. It’s undeniable that those who can afford to live in Boulder also enjoy unparalleled amenities, from many square miles of open space to fabulous schools and recreation centers. So, what’s missing?
As it turns out, a whole lot of what makes a community a community.
The Boulder of today has a much less diverse population than across Colorado and the United States. Boulder’s recent Community Perception Assessment also tells us that not all residents and visitors see our community as uniformly welcoming. […]
View Original: Jose D. Beteta and John Tayer: Three pillars for a more inclusive community