Economic Inequality

Social inequality more impactful on well-being than income inequality

Boston Consulting Group’s Sustainable Economic Development Assessment (SEDA) suggests that the correlation between well-being and social equality is stronger than that between income equality and well-being. Likewise, those individuals in countries with high levels of social equality tend to be happier than those without. SEDA makes an objective measurement of well-being by examining and analyzing

The Exploitation Time Bomb

Worsening economic inequality in recent years is largely the result of policy choices that reflect the political influence and lobbying power of the rich. There is now a self-reinforcing pattern of high profits, low investment, and rising inequality—posing a threat not only to economic growth, but also to democracy. Since reducing inequality became an official goal of

How U.S. Women’s Soccer Highlights Broader Economic Inequalities

Chants of “equal pay!” rang out across the World Cup stadium after the U.S. Women’s national team (USWNT) clinched their fourth World Cup victory on Sunday. Throughout the tournament, the women of the U.S. national team were dominant - on the pitch and off. Against the backdrop of seemingly endless goals, pay inequality loomed large on the world stage.

Income inequality is neither ubiquitous nor inevitable.

Rising levels of inequality has become a key political issue in recent years; “the defining issue of our time,” as Barack Obama described it back in 2013. It was at the heart of the Occupy movement protests, and has received a huge amount of attention in the media and in policy circles. But much of this

A Deep Data Crunch, a New Atlas of Inequality

Most of us want to live rich, full lives. What do we mean by that? We don’t mean get filthy rich. Yes, most of us do seek economic security, but we don’t wake up every morning scheming to make ourselves a grand private fortune. We endeavor to be rich in a broader sense. We want

Nearly half of global wages received by top 10%, survey finds

Nearly half of all global pay is scooped up by only 10% of workers, according to the International Labour Organization, while the lowest-paid 50% receive only 6.4%. The lowest-paid 20% – about 650 million workers – get less than 1% of total pay, a figure that has barely moved in 13 years, ILO analysis found. It

Skill Development: How CEOs Can Tackle Income Inequality

The rapid growth in income inequality in America over the past decade is alarming. It threatens our economic and social stability. The income disparity between the top rung and the bottom rung is stark and getting worse. The wealth disparity is even more pronounced. The plight of average Americans will erode trust in capitalism unless

10 Inequality Takeaways from the Democratic Debates

The Democratic primary debates have officially begun. And as the candidates shared a stage for the first time, it was clear that serious contenders needed to not only acknowledge our country’s extreme economic inequality but also put forward concrete plans for tackling the problem. How much has the conversation changed since the last presidential election?

The Gap Between Rich And Poor Americans’ Health Is Widening

Income inequality in the U.S. has grown over the past several decades. And as the gap between rich and poor yawns, so does the gap in their health, according to a study published in JAMA Network Open Friday. The study drew from annual health survey data collected by the Centers for Disease Control and Prevention from 1993 to 2017,

Billionaires from George Soros to Abigail Disney are begging to be taxed more

Calls for a wealth tax have high support among Americans — including some ultra-wealthy Americans. In an open letter to 2020 presidential candidates published Monday, a group of ultra-wealthy Americans including George Soros, Abigail Disney and members of the Pritzker and Gund families expressed their support for a moderate wealth tax on the 1%. "America

5 ways to fight wealth inequality, according to economists

The rise of income inequality and the struggles of so many families to get ahead have shaken American politics across the spectrum. President Donald Trump invokes the plight of “the forgotten people.” Liberals call for massive new government programs. Wall Street titan Jamie Dimon proposes “a Marshall Plan for America.” Ideological conservatives warn of a

Nearly Every U.S. County Lacks Enough Affordable Housing

The National Low Income Housing Coalition (NLIHC) released its 2019 Out of Reach report today. The report concluded that a full-time worker needs to earn an hourly wage of $22.96 on average to afford a modest, two-bedroom rental home in the U.S. This Housing Wage for a two-bedroom home is $15.71 higher than the federal minimum wage

Economic inequality: What’s new?

"I’m a capitalist, and even I think capitalism is broken,” said Ray Dalio, the founder of Bridgewater, one of the largest private investment funds in the world. According to Forbes, Dalio ranks 60th on the list of richest people on the planet. “I believe that all good things taken to an extreme become self-destructive and that everything

Better Schools Won’t Fix America

Long ago, I was captivated by a seductively intuitive idea, one many of my wealthy friends still subscribe to: that both poverty and rising inequality are largely consequences of America’s failing education system. Fix that, I believed, and we could cure much of what ails America. This belief system, which I have come to think

‘Socialism for the rich’: the evils of bad economics

In most rich countries, inequality is rising, and has been rising for some time. Many people believe this is a problem, but, equally, many think there’s not much we can do about it. After all, the argument goes, globalisation and new technology have created an economy in which those with highly valued skills or talents

Traffic Jams Are a Sign of Income Inequality

The Dutch-based navigation company TomTom NV has discovered in the course of research for its 2018 traffic congestion index that the German cities with the highest and fastest-growing apartment rents are also the most congested. This finding contains an important message for city planners: Instead of trying to fight cars, perhaps it’s worth putting effort into building

5 reasons why income inequality has become a major political issue

Income inequality has captured America’s economic debate. President Donald Trump, elected with the votes of discontented blue-collar workers, slaps tariffs on allies and adversaries alike in the name of restoring yesterday’s middle-class manufacturing jobs. His 2020 Democratic challengers demand an array of federal initiatives, including higher minimum wages, tax hikes on the rich and reshuffling

Workers paid by the hour are ‘always going to fall behind,’ making wealth inequality worse

Billionaire tech entrepreneur Mark Cuban has proposed a solution for income inequality that doesn’t involve dismantling capitalism: Business owners should give all their employees equity. “The biggest issue for entrepreneurs, for capitalists, for those of us who are successful is, if someone is only going to be paid by the hour...they’re always going to fall behind,” Cuban

These 15 countries have the widest gaps between rich and poor

In American politics, the issue of income inequality comes up frequently. As wealth continues to concentrate at the top – now the wealthiest 10% of American households control nearly 75% of household net worth – the middle continues to shrink, and some previously thriving metro areas have been hard hit by extreme poverty. But income