Recession pushes income gap between rich, poor to record Sep 30, 2009
It's unclear whether income inequality will continue to worsen in major cities, said William Frey, a demographer at the ... "During the years of the housing bubble, there was middle-class movement from unaffordable metros with high-income inequality," Frey said. (USA Today -- Money)
South Africa: Development Indicators Sep 26, 2009
Income inequality in South Africa was not reduced even during the years of economic growth: while income of all sectors has improved, that of the richer segment of the society seems to have improved at a faster rate ... However these were not enough to dent income inequality. (allAfrica.com)
Income inequality, jobs worry Presidency Sep 26, 2009
"Income inequality in South Africa was not reduced even during the years of economic growth: while income of all sectors has improved, that of the richer segment of the society seems to have improved at a faster rate," says the report ... "In short, these figures indicate that since 1994 significant improvements were made with regard to reducing poverty. Both the distribution of social grants as well as an improvement in the labour market, have significantly improved the income levels of... (Business Report, South Africa)
How China's Yuan Can Become a Global Currency Sep 16, 2009
These include, among other problems, persistent and widening regional economic disparities and rural-urban income inequality, rising social unrest and inter-ethnic conflicts, rampant corruption, and serious environmental degradation. An eruption of any one of these, or a combination of several "fault lines," could put a sharp brake on the ascent of the and concomitantly propel the yuan onto an inordinately volatile trajectory. (BusinessWeek)
Public Information Notice: IMF Concludes 2009 Article IV Consultation with South Africa Sep 11, 2009
Directors observed that South Africa continues to face challenges in addressing high levels of unemployment and income inequality. They saw the immediate challenge as supporting domestic demand with well-calibrated counter cyclical macroeconomic policies, while preserving price and external stability. (IMF News)
Japan's election: Lost in transition Sep 10, 2009
Yet after the boom years of the 1980s degenerated into the lost decade of the 1990s, increasing income inequality, unemployment and social dislocation have begun to tarnish that alluring image. The slump that began late last year has sharply exacerbated the problem, pushing the unemployment rate to 5. (The Economist)
Got A Case Of The Economic Blues? Sep 9, 2009
Half have seen wages frozen or cut, even after enduring more than two decades of stagnant wages, shrinking retirement accounts, and rising income inequality. Nearly 90 percent of American workers lack a formal voice at work and those who want one are blocked by labor laws that are outdated and broken. (CBS News)
National Recession Sets Wages Back for Middle-Class Pennsylvanians Sep 6, 2009
"Income inequality is at its highest levels since 1917," said Dr. Price ... Income inequality in Pennsylvania and the United States now exceed the level at any other time for which data exist (data exist from 1986 to 2006 for Pennsylvania, and 1917 to 2007 for the U.S.). (PR Newswire)
Gabon: Election Result Expected Wednesday Sep 1, 2009
While the country's per capita gross domestic product of $14,400 is four times that of most sub-Saharan African countries, a large proportion of the population remains poor because of high income inequality, according to the Central Intelligence Agency's World Factbook. "Bongo's main strategic task over the next decade will be to transform the sleepy oil-rich country into a less oil- dependent dynamic economy, while deepening the country's democracy," Sebastian Spio-Garbrah, Africa analyst at... (allAfrica.com)
Obama Aide’s Case Against Euthanasia From Atlantic Archives Aug 27, 2009
And the Dutch have relative income equality, whereas income inequality in the United States is among the greatest in the developed world. Such diversity and inequality make it harder to share norms and to enforce them. (The Atlantic Online)
South Africa: A Nation Killing Itself Aug 26, 2009
"Income inequality, low economic development and high levels of gender inequality are strong positive predictors of rates of violence and injury," note the authors. The social dynamics that support violence are widespread poverty, unemployment, and income inequality; patriarchal notions of masculinity that valourise toughness, risk-taking, and defence of honour; exposure to abuse in childhood and weak parenting; access to firearms; widespread alcohol misuse; and weaknesses in the mechanisms of... (allAfrica.com)
Leadership needed to fight SAfrica violence-study Aug 25, 2009
Widespread poverty, unemployment, income inequality, alcohol abuse, access to weapons and poor law enforcement are fuelling violence in Africa's biggest economy, according to a study by The Lancet Series on Health in South Africa. "The overall injury death rate of 157.8 per 100,000 population is nearly twice the global average and the rate of homicide of women by intimate partners is six times the global average," the report said. (AlertNet)
When the Rich Get Poorer, Look Out Below Aug 22, 2009
If you look at average real income figures, the wealthy have benefited more from the growth economy since the Reagan eighties, and many critics argue that income inequality has worsened in the US.. But wage income does not tell the whole story. (Human Events Online)
Show me printed money Aug 20, 2009
Consider a recent study of income inequality by Berkeley professor Emmanuel Saez: In 2007, the top 0. 01 percent of American earners took home 6 percent of total U.S. wages, a figure that nearly doubled since 2000. (Albany Times Union)
Income Share for Richest U.S. Households Set Record in 2007, Study Says Aug 18, 2009
Groups such as the Washington-based Tax Foundation, a Republican-leaning research organization, says such analyses exaggerate income inequality because they measure pretax income. Declining Share. (Bloomberg -- US)
Gibbs: No "Postal Service" for Health Care Aug 17, 2009
Try this on for size: Income inequality in this country has never been higher than today since 1917, as a rsult of Bush's tax cuts and policies of every Republican administration of the last 30 years. by windmaster2 August 16, 2009 5:05 PM EDT. (CBS News)
Why Politics Matters—for Business Schools Aug 11, 2009
Unprecedented income inequality translated into political power that not only succeeded in treating income as capital gains but also defeated prudent regulation. As a result, competition policy went to sleep, allowing for the growth of a massive financial industry characterized by unbounded incentives for excessive risk-taking. (BusinessWeek)
The Wall Street Journal's Fraud Blindness Aug 11, 2009
How America's rising income inequality figures in to the debate over health care. Eliot Spitzer | July 28, 2009. (Slate)
Singapore needs to develop new ideas, new products to continue thriving Aug 7, 2009
" onclick="Next();" src="/images/butt_next. A strategy that mainly relies on cheap factors of production, labour and other inputs, is not likely to work as well going forward. (Channelnewsasia.com)
Freed Reporters Describe N. Korea Ordeal Aug 6, 2009
" by demslie2US August 5, 2009 11:22 AM EDT No, the America he promised will happen over a couple more election cycles, as Reich Wingnuts are removed from every position in government, till they and their failed ideology are finally pronounced extinct. That will be another great day in America, just like today....LOL by docpeter1953 August 5, 2009 11:33 AM EDT In the lead-in photo, is Bill checking out that woman's buttocks? With that smirk on his face... I thought he liked Fat-Bottomed women.... (CBS News)
Next health care initiative: Nixing fried food in public places Aug 4, 2009
"It's a necessary tradeoff when our finances are intermingled. If we had much less income inequality and financial protection from catastrophic medical expenses, this whole discussion would fade away. Everyone could afford basic health insurance.". "I'm going for the coconut cr?me pie," Kenny says. (The Daily Journal)
Paul Krugman: Wall Street begs for more regulating Aug 4, 2009
And soaring incomes in the financial industry have played a large role in sharply rising income inequality. What should be done. (Sacramento Bee -- Opinion)
Rebalancing China's economy: The spend is nigh Jul 31, 2009
Louis Kuijs, an economist at the World Bank in Beijing, suggests that the extra saving may owe as much to greater income inequality as to the lack of a welfare state. Rich people save a lot more and their numbers have increased. (The Economist)
Rich and poor gap 'remains high' Jul 30, 2009
The ONS said there had been a sharp rise in income inequality in the late 1980s ... But the report said the UK still had one of the highest levels of income inequality in the developed world. (BBC News -- Business)
Health care legislation is dishonest Jul 30, 2009
"Maybe in your imagination. If you look at **data** and **facts** you might come to a different conclusion.{The report said large U.S. companies paid CEOs an average $10.5 million in compensation last year, 344 times what the average worker earned.}{Americans have the highest income inequality in the rich world and over the past 2030 years Americans have also experienced the greatest increase in income inequality among rich nations. The more detailed the data we can use to observe this... (Waterloo-Cedar Falls Courier)
In Sickness and in Wealth Jul 29, 2009
How America's rising income inequality figures in to the debate over health care ... How America's rising income inequality figures in to the debate over health care. (Slate)
Newsweek: Why we should stop overtaxing the rich Jul 21, 2009
Richard Posner, senior lecturer at the University of Chicago Law School and judge on the U.S. Court of Appeals for the Second Circuit, says what no elected official dares to say: "As society becomes more competitive and more meritocratic, income inequality is likely to rise simply as a consequence of the underlying -inequalitywhich is very greatbetween people that is due to differences in IQ, energy, health, social skills, character, ambition, physical attractiveness, talent, and luck."... (MSNBC -- Business)
In defense of student loans Jul 19, 2009
These unfair policies are sold as helping people move up but they unwittingly exacerbate income inequality, an issue that President Obama professes to be greatly concerned about. Yet the centerpieces of his higher education plan are boosting the American Opportunity Tax Credit and increasing college grants. (Yahoo News)
Obama's Tax-and-Spend Tastes Seduce Democrats Jul 17, 2009
And to think last year policy makers were worried about the destabilizing effects income inequality could have on society. Aronstein wonders how close were getting to a tax revolt on the part of those who pay taxes. (Bloomberg -- Columnists)
China's Self Fulfilling Prophesy Jul 16, 2009
Shortly after the United States introduced the concept of a global "war on terror," the local police seized the opportunity to ratchet up already stringent security measures aimed at Uighurs under the mantra of cracking down on the "three evils" of "terrorism, separatism, and religious extremism." The police treat these threats as interchangeable and as the underlying source of Uighur discontent in the region, despite the abundance of obvious socio-economic grievances-- which range from income... (CBS News)
Where Will the Job Growth Come From? Jul 16, 2009
Income inequality could worsen. "I'm reasonably confident about the state of employment," says Joshua L. Rosenbaum, economist at the University of Kansas. (BusinessWeek)
California Crack-Up Jul 14, 2009
The Chronicle editorial board asked, After the last three decades have resulted in the most staggering income inequality since 1929, are we ready to embrace a new philosophy on taxes, on the role of government, on the question of what it means to contribute to your country ... Marxist-Inspired Taxation: The San Francisco Chronicles editorial board asserted that the election of Obama hopefully signals the beginning of a new era when the U.S. government can finally address the problem... (Townhall.com)
Google vs. Microsoft: Haven't we seen this movie? Jul 10, 2009
He lambastes income inequality both within and between nations, and criticizes a profit-seeking mentality devoid of concern for social welfare, "The dignity of the individual and the demands of justice require, particularly today, that economic choices do not cause disparities in wealth to increase in an excessive and morally unacceptable manner, and that we continue to prioritize the goal of access to steady employment for everyone.". And perhaps most strikingly, he situates his entire social... (Salon)
U.S. recession hurts rural Mexico Jul 10, 2009
He says the trend might also force Mexico to create jobs at home and tackle income inequality, describing the cash transfers as a "crutch that the Mexican government has leaned on for quite a while.". It won't be easy to live without the money remittances generated $25 billion for Mexico last year, an even greater windfall than tourism. (USA Today)
Compared with other OECD countries, needy are well cared for Jul 9, 2009
It says Australia rivals Denmark and Sweden, the "epitome of redistributive welfare states", in effective reduction of income inequality ... "For each dollar of spending on benefits Australia reduces income inequality by about 50 per cent more than the US, Denmark or Norway, and three times as much as France.". (Sydney Morning Herald -- Australia)
South Asia Jul 5, 2009
Al-Qaeda planned and financed the mission because its key sanctuaries in the border areas with Afghanistan have been "violated'. - Syed Saleem Shahzad (May 28,'09) INTERVIEW General David Petraeus, the commander of United States Central Command, addresses head-on a wide range of sensitive issues, from "enhanced interrogation techniques" to Afghan civilian casualties. Some of his comments, though, contradict earlier reports, such as his thoughts on US troop withdrawal from Iraq. (May 27,'09) The... (Asia Times Online)
Private schools in the recession: Staying on board Jul 3, 2009
In both America and Britain income inequality is high by rich-world standards, especially at the top end, so there are people who can pay for the most illustrious schools with little or no pain ... If bonuses never return, or income inequality falls markedly for some other reason, even the elite could find the going harder. (The Economist)
Viewpoint: Anti-Union is Bad for Business Jun 25, 2009
When unions raise the wages of the lowest-paid workers, this increases savings and reduces income inequality, which has beneficial effects on a nation's economic growth and investment, not to mention its health and social cohesion. For all of this, unionization cannot happen by itself. (BusinessWeek)
Click to read:Poll: Most Back Public Health Care Option Jun 21, 2009
In Canada there is no association between income inequality and mortality rates. none whatsoever. (CBS News)
What's the matter with San Francisco? Jun 18, 2009
So maybe that does put the liberal in the same box as the working class Kansan who decides that opposing same sex marriage is more important than addressing income inequality. But to take that position seems to me to be ignoring the reality of what we've just witnessed in this country. (Salon)
Is Mexico a Failed State? Jun 1, 2009
The U.S. should also implement policies that decrease income inequality and uneven access to social services, such as health care. Its human rights policies in the fight against terrorism are controversial and have raised questions about the country s adherence to international norms, treaties policies it helped create. (Human Events Online)
Mboweni declines - and leaves Numsa fuming May 29, 2009
"Fiscal and monetary policy mandates including management of interest rates and exchange rates, need to actively promote creation of decent employment, economic growth, broad-based industrialisation, reduced income inequality and other developmental imperatives," the union's memorandum said. It declares that international interest rates have been cut far more robustly than here. (Business Report, South Africa)
A credit card as irresistible as you are May 21, 2009
Increasing income inequality, and steadily growing middle- and lower-class indebtedness temporarily disguised by a couple of big bubbles. This was not sustainable. (Salon)
Inequality makes us ill. And depressed. And violent May 19, 2009
This link from income inequality to status anxiety seems plausible, but it's not really explored in the book, and I suspect that it varies from context to context ... In such a context, there may be relatively high-quality social relationships (in terms of trust, autonomy and contacts) despite great income inequality ... In other contexts, there may be better-paying jobs available, hence less income inequality, but if those jobs are only temporary, and require people constantly to move, the... (Globe and Mail -- Business)
Eunomia">Eunomia May 14, 2009
When people experience the effects of income inequality and social and economic stratification, they tend to be drawn to left-liberal politics and government remedies, and the conservative and neoliberal cry of solving these structural problems with more education and opportunity not only does not appeal to the megalopolitans, who see them as woefully lacking, but also adds insult to injury for those adversely affected by the upheaveals of rapid economic, technological and cultural change ...... (The American Conservative)
Two Views on the Cause of the Global Crisis Part I May 13, 2009
In part one of our two-part series, World Bank economist and Carnegie Endowment scholar Branko Milanovic argues that while analysts can quibble over the contributing factors to the financial meltdown, a deeper, more fundamental problem was the real cause: income inequality. Growing income inequality led to an abundance of investable funds searching for superior returns, which ultimately could only be achieved through riskier investments ... Income inequality and speculative investment by the... (YaleGlobal Online Magazine, CT)
Decentralism May 12, 2009
When people experience the effects of income inequality and social and economic stratification, they tend to be drawn to left-liberal politics and government remedies, and the conservative and neoliberal cry of solving these structural problems with more education and opportunity not only does not appeal to the megalopolitans, who see them as woefully lacking, but also adds insult to injury for those adversely affected by the upheaveals of rapid economic, technological and cultural change. More... (The American Conservative)
Inequality worsens in Labour's cruel Britannia May 9, 2009
3 per cent. As a result, income inequality at the end of Labour's 11th year in power was higher than at any time during the Thatcher prime ministership. The Institute for Fiscal Studies, Britain's leading think tank on tax and benefits, said the increase in poverty in 2007-08 was due to weak income growth for the low paid. (Sydney Morning Herald -- World)
A right path for India's left May 8, 2009
However, two of India's core problems - income inequality and religious extremism - can only be solved by embracing the left ... However, for this model to be sustainable amid the pressures of the global economic downturn and the growth and proliferation of terrorism, will require solutions to the twin challenges of income inequality and religious extremism. (Asia Times Online)
Pennsylvania May 8, 2009
However, herein lies the difficulty for Toomey to make a statewide appeal: the north, center and east are all characterized by greater income inequality and probably somewhat less economic dynamism and upheaval, which make these regions very resistant to an anti-tax fiscal conservative. My guess is that, personality and biography aside, had Ridge run he would have found a similar pattern of support inside the GOP primary electorate that Specter did, but might have had more of a draw in the west... (The American Conservative)
The incredible expanding AIG bonus pool May 6, 2009
The fact that Roberts got $500,000 a year is a clear sign, as Fox acknowledges, that "pay in the financial sector escaped the moorings of the rest of the economy over the past couple of decades." If you want to understand rising income inequality in America, David Roberts is part of the story. Sure, "how-it-sucks-never-to-have-been-rich-in-the-first-place" is a dog-bites-man kind of story that won't sell many newspapers or generate tons of page views. (Salon)
Newsweek: How recession is playing at Wal-Mart May 5, 2009
For more than two decades, as income inequality increased and job security decreased, Americans lapped up personal finance columns, books, and television shows. Multimedia and features. (MSNBC -- Business)
The End of Personal Finance May 3, 2009
For more than two decades, as income inequality increased and job security decreased, Americans lapped up personal finance columns, books, and television shows. We thrilled to stock tips and swooned at sensible strategies for using dollar-cost averaging to invest in no-load index funds. (Slate)
GTUC Expresses Misgivings about High Court Ruling May 2, 2009
There was also a call on government to ensure that its economic and social policies address the widening income inequality by bridging the gap between the rich and the poor. On job creation, Mr Asamaoh urged government to take a second look at the Interim Economic Partnership Agreement and the EPA itself because of the serious implications for the creation of productive employment. (Ghana Web, Ghana)
A sob story from the vultures who forced Chrysler into bankruptcy May 1, 2009
responsibility for growing income inequality in the United States generated ... Income inequality has increased, and that can be undesirable, but the welfare of many low-income people has dramatically improved ... A society in which income inequality keeps growing is an unhealthy society. (Salon)
Obama versus the hedge funds Apr 30, 2009
I wish Joe Stiglitz were a little closer to the premises, and I hope that Obama, who says he reads "[Stiglitz's] stuff all the time," was telling the truth when he said he is "looking forward to having these folks [Stiglitz, Krugman, Reich] in for ongoing discussion. Because if you want a real asymmetry of information -- all you have to do is put Stiglitz and Summers in the same room. Andrew Leonard Posted in: Wednesday, April 29, 2009 12:35 PDT Encouraging : A higher percentage of the world's... (Salon)
How the Middle Class Destroys Democracy Apr 29, 2009
There, per capita income in some provinces is now 10 times that of China's interior, and the country's income inequality rivals that of the most stratified Latin American societies. For its benefit, the Communist Party even plays upon middle-class status anxiety by tacitly stoking fears that full democracy, with real freedom of movement for all Chinese, would result in millions of rural peasants swamping the cities. (Slate)
FDR's stimulus was too small, too Apr 29, 2009
David Warsh does but the gist is this: Saez has done more than any other economist to document and prove the steady growth of income inequality in the United States ... I'm not going to cut it too fine: I think you can very well blame the Chicago school for the fiasco of growing income inequality in the U.S. Nice triumph for deregulated capitalism, boys. (Salon)
Fate of BofA boss Lewis rests with shareholders Apr 29, 2009
"Emmanuel's work on income inequality has helped to point the way for the administration in its pledge to rebalance the tax code," Peter Orszag, President Obama's director of the Office of Management and Budget, blogged on the office's Web site ( ). Relevance to today. (San Francisco Chronicle -- Business)
South Africa: The Zuma Presidency - New Era or Business as Usual? Apr 29, 2009
" In other commentary, it has also been argued that income inequality is one of South Africa's biggest challenges and that this inequality in income distribution is the result of a growth path that ensures high earnings for the owners of capital and employees with skills. The main conclusion reached by the UNDP report was that "South Africa's sustainable development prospects depend on a successful re-orientation of the economic structure and policies such that the economy becomes inclusive... (allAfrica.com)
A champion of ordinary people Apr 28, 2009
In an Africa bereft of successful populist politicians, Mr. Zuma's role models may come from Latin America, where income inequality is also extreme and the trade-union movement, as in South Africa, is strong and militant. With enormous pressure from ordinary people to deliver tangible gains, Mr. Zuma will quickly face a major test: Will he emulate Brazilian President Luiz Inacio Lula da Silva, who has struck an admirable balance between good economic governance and redistribution of wealth to... (Globe and Mail -- International)
Secret lives of statistics Apr 18, 2009
Over the past 38 years, I think that the statistics on the incidence of absolute poverty, the inter-ethnic income disparity, overall income inequality and the ownership of share capital of bumiputras have been the most outstanding statistics because of their wide repercussions. And controversial too. (The Star Online, Malaysia -- Business)
Obama eager to portray US as partner for Americas Apr 16, 2009
Obama needs support from nations in the region to reinvigorate trade, which is plummeting, to build partnerships on clean energy and climate strategy, to stabilize democracies and to reduce the poverty and income inequality that can fuel desperation. As a tone-setting gesture ahead of the trip, Obama lifted travel restrictions on Cuban-Americans who want to visit the communist island or send money to their homeland. (San Francisco Chronicle -- Crime)
Voter's guide: economy Apr 16, 2009
ANC: "fiscal and monetary policy mandates, including management of interest rates and exchange rates need to actively promote creation of decent employment, economic growth, broad-based industrialisation, reduced income inequality and other development imperatives". DA: "would ensure that fiscal and monetary policy acts not so as to control economic activity, but to attract labour-creating investment through price stability, a competitive tax regime and appropriate government expenditure". (iAfrica.com)
Another View: Super-rich can't plug the budget gap Apr 11, 2009
Income inequality has widened for the past three decades, and it only makes sense for those who have benefited to pay more. But there is a limit to how much the tippy top should bear. (Hanford Sentinal, CA)
