Tag Archives: inequality

I had been waiting for last month’s publication of the book “Confronting Inequality” before preparing my annual update on income inequality and redistribution in Canada. I am glad I did because the book presents new and exciting empirical findings that shed light on the age-old equity/growth debate (more on that below), but also introduced me to the Standardized World Income Inequality Database (SWIID). Data comparability and granularity has been a challenge for inequality researchers...

(There’s a movie at the end!) For decades we have been hearing about the loss of industrial production through out what is called the “Rust Belt”.  It’s presented, even as recent as the prior presidential election as a relative regional problem that only began post Reagan.  What gets me though is that the reporting and ultimately the politics are as if the rust belt is/was unique in their experience with the west and east coast experiencing nothing of the...

Our study aims to help draw together two strands of literature. As the World Inequality Report recently showed, most advanced nations have seen an increase in inequality over the past generation. Meanwhile, a growing body of evidence points to an increase in market power, both in terms of rising market concentration and increasing markups. A burgeoning literature suggests that superstar firms are capturing increasingly high market shares, allowing them to use their market position to earn...

Nice find.The Case for Concerted ActionJason Hickel — A Letter To Steven Pinker (And Bill Gates For That Matter) About Global PovertyV. Ramanan

A panel on economic inequality went off script this weekend, as the participants told the gathered billionaires that their philanthropy and pet projects for the poor were not the answer to economic world justice.This wasn't what Davos had in mind.... Back to the Eisenhower level and eliminate tax avoidance. Oh, my! Crooks and LiarsDavos Panel Goes Rogue On Economic Inequality: Tax The Rich! Frances Langum

Many figures of the European establishment regard Emmanuel Macron as the saviour of the European project. Yet his response to these protests – violence, mass arrests and the reinstatement of national service for 16-year olds – would hardly be out of step with the more retrograde national populist and authoritarian regimes. If Emmanuel Macron wants to save his reputation, let alone Europe, he must start leading by example, ban the flashball, and take these protests seriously rather than...

My new essay examines the question from three points of view: the coverage provided by tax data in the world economy, the consistency of tax data with other sources of information on income inequality, and the peculiarities of tax-based measurement of inequality in the United States. It goes on to make a comparison with measures drawn from other forms of administrative data—specifically payroll records, used by the University of Texas Inequality Project—which are generally more consistent...

Branko Milanovic explains why Marx's historical analysis of socio-economic phenomena remains not only relevant but also preeminent, based on a few key insights. While he does not identify as a Marxist or even a Marxian, he credits the important influence of Marx on his thinking.There are no non-trivial economic phenomena that are not socio-economic, and Marx is the analyst that put his finger on the how and why. While it would be a mistake to dogmatize Marx, it would also be a great mistake...

A new paper by James k. Galbraith has been published in Development & Change. It's along the lines of his arguments in the Godley-Tobin Lecture delivered earlier this year, and to be published in the Review of Keynesian Economics (ROKE) in January. Basically, we need a macro story for inequality (which Piketty r-g framework tries, but ultimately fail to provide) and that the payroll data that Galbraith uses provides a more accurate measure of inequality than the tax records favored by...

Everyone is better off in absolute terms (growth, trickle down) but distribution is becoming more asymmetrical, with growth income and wealth occurring largely at the top tier AKA "the 1%." Marginalism and "just deserts" don't explain it. The issue is not only asymmetrical income and wealth but also asymmetrical power rather than "merit." Taking capitalism is the economic system that favors capital (ownership and control) over labor (workers, i.e., people) and land (the environment),...