Posts Tagged ‘ income inequality ’

Wealth inequaltiy worldwide

May 18, 2013
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Following the recent wealth inequality in America video that has gone viral on youtube, /The Rules, an organization and movement to “bring power back to people, and change the rules that create inequality and poverty around the world,” has put together a very similar video that uses the same statistical graphics to describe wealth inequality on a global scale. The displayed statistics are all taken from credible sources (e.g. the UNDP Human Development Reports, OECD, World Bank etc.) In an accompanying article, Jason Hickel, one of the people behind /The Rules and a lecturer at the London School of Economics,…

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Born Rich (documentary)

May 17, 2013
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As the rich get richer, their children live lives of abundance. One wealthy American family decided to make this point perfectly clear by naming their son “Lavish.”  Considering his behavior, though, perhaps the parents should have named him “Obnoxious” instead: he  openly boasts about his wealth on his instagram account (eloquently named “itslavishbitch“), he uses gold-plated staples, and shows off flying around the world with his family’s private jet. Lavish is just one of a growing number of insanely wealthy teenagers who are, contrary to their rather secretive plutocrat parents, not shy to show off their assets. These kids grow…

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Wealth inequality in America

April 24, 2013
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The following short video recently went viral and received more than 5.5 million views on YouTube. Using accurate and easy to comprehend graphs, it showcases the full scope of U.S. income inequality. The video is mostly based on a paper written and published by Michael I. Norton and Dan Ariely, titled “Building a Better America—One Wealth Quintile at a Time.” It also references other data provided by a number of mainstream and progressive websites such as CNN, Motherjones and ThinkProgress. The video is receiving interesting responses from conservative and neo-liberals, who either challenge the accuracy of the video or attempt…

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Affluent people and trickle-down economics

October 29, 2012
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When the latest republican president, George W.Bush encouraged people to go shopping and introduced massive tax cuts on corporations and the wealthiest he acted as perfect role model for conservative economic politics. Mitt Romney is now running for president by promoting the same ideas and further tax cuts.  These conservative policies are often justified by recourse to “trickle-down economics,” the idea that tax breaks or other economic benefits provided by the government to businesses and the wealthy will result in further investment by the rich, leading to more jobs and hence benefiting the poorer members of society. But does money really trickle down? The…

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On most metrics, the US is a dog

October 8, 2012
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The provocative title of this post is not an opinion but a quote from a recent book by Howard Steven Friedman, a statistician and health economist for the United Nations and an adjunct professor at Columbia University’s School of International and Public Affairs. The book, entitled “The Measure of a Nation,” compares the US’ standings on a variety of metrics concerning health, safety, education, democracy and income equality to those of 13 carefully chosen competitor OECD nations: Australia, Belgium, Canada, France, Germany, Greece, Italy, Japan, Portugal, the Netherlands, South Korea, Spain and the UK, all of whom have populations of at least ten…

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Upward mobility in the U.S. is a myth

October 8, 2012
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Robert S. Strauss used to say that every politician wants you to believe he was born in a log cabin he built himself. Republicans in particular never tire of emphasizing the unparalleled opportunities that exist in US, where hard work and determination can propel anyone out of humble beginnings into the White House, or at least a mansion on a hill. But is this really the case? A recent international study examined the relationship between wealth, heritage and inequality across generations. Here’s the abstract: We study the role of parental wealth for children’s educational and occupational outcomes across three types of…

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How economic inequality harms societies (TED lecture by Richard Wilkinson)

May 17, 2012
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The following is a brilliant, evidence-based lecture on the devastating consequences of socio-economic inequality. The speaker is Richard Wilkinson, an epidemiologist and leading figure in the field of inequality research. The lecture presents a very compelling case for the idea that the level of socio-economic inequality in a society is the key criterion for determining the health of that society. One can also read a brief Truthout interview with Wilkinson on the consequences of inequality here. 

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Less inequality during the Roman Empire than in the US today

December 27, 2011
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Walter Schiedel and Steven Friesen recently analyzed papyri ledgers, biblical passages, and previous scholarship to conduct a study on the ancient Roman Empire and found that the top one percent of income earners in ancient Rome controlled 16% of society’s wealth.  Per Square Mile, a data analysis blog by writer Tim De Chant, took the study and compared it to contemporary income disparity in the US and found that the Romans had less inequality than the Americans currently have. Some Quotes: Over the last 30 years, wealth in the United States has been steadily concentrating in the upper economic echelons. Whereas the…

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