Knoema.com - Income Inequality http://pt.knoema.com 2023-12-30T07:36:44Z /favicon.png Knoema é o seu caminho pessoal do conhecimento US State Level Income Inequality //pt.knoema.com/aptxluf/us-state-level-income-inequality 2023-12-30T07:36:44Z Alex Kulikov pt.knoema.com://pt.knoema.com/user/1847910
US State Level Income Inequality

Rising income inequality in the United States over the past quarter century is well documented. For the vast majority of states, the share of income held by the top decile experienced a prolonged period of stability after World War II, followed by a substantial increase in inequality during the 1980s and 1990s. And the most interesting fact that the rising income inequality has positive correlation with the growth of real personal per capita income. Frank, Mark. W. 2009 "Inequality and Growth in the United States: Evidence from a New State-Level Panel of Income Inequality Measure" Economic Inquiry, Volume 47, Issue 1, Pages 55-68  

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Inequality of Global Wealth //pt.knoema.com/ctnwojb/inequality-of-global-wealth 2023-02-03T16:35:12Z Alex Kulikov pt.knoema.com://pt.knoema.com/user/1847910
Inequality of Global Wealth

In 2016, just 1 percent of the world's population owned more than 50 percent of the world's wealth. According to the data from the Credit Suisse Research Institute, inequlity of world wealth continues to grow every year. The Institute's assessment is based on a global analysis of national wealth—defined as the value of the financial assets plus real estate (housing) owned by the households, less their debts—and use of the Gini Index, a traditional measure of income distribution and, thereby, inequality. As noted in the Institute’s report:About 3.5 billion people—or, 73 percent of the global population—own less than $10,000.Another 900 million people have between $10,000 and $100,000. This group represents the main driver of growth in demand for goods and services.That leaves the 65 million people globally who eacg possess more than $100,000, including 33 million multi-millionaires who control the bulk of global wealth. An increase in wealth inequity can affect the economy of a given nation by reducing the purchasing power of the main drivers of economic growth. Which countries should be put on notice? Many.While the wealth distribution of countries differs widely, the number of US millionaires, the total population of African adults with wealth under $10,000, and the share of wealth represented by the top-1 percent of Russian citizens are especially noteworthy.Based on the Gini Index alone, many countries of central Europe score the best on income equality. Among the world's major economies, Japan scored the best on the Gini Index, however, the share of the country's population with wealth greater tha $100,000 is still seven times the global average.

Alex Kulikov pt.knoema.com://pt.knoema.com/user/1847910
Chile's Socio-Economic Disparities Exposed by Weeks of Protests //pt.knoema.com/eaiwmhf/chile-s-socio-economic-disparities-exposed-by-weeks-of-protests 2022-10-13T16:56:01Z Alex Kulikov pt.knoema.com://pt.knoema.com/user/1847910
Chile's Socio-Economic Disparities Exposed by Weeks of Protests

A policy decision to increase public transport fares in Chile earlier this month triggered nearly two weeks of mass protests across Chile's largest cities, including the capital city of Santiago. While Chilean President Sebastián Piñera last week announced economic reforms to bring peace to the country - raising pensions, monthly minimum wages, and taxes on the wealthy - the socio-economic deficits of the country have been exposed and the youth mobilized. Prosperity for Chile is real and measurable ... At the end of the 20th century, Chile carried out radical economic reforms. Through the fostering of private entrepreneurship, the rejection of protectionism, the reduction of state regulation and other measures, the Chilean government managed to perform a policy "miracle" in the shortest possible timeframe. Today, Chile is the most prosperous country in South America and is classified by the OECD as a "developed economy" based on its gross national income per capita and high human development index score.  ... but it is not universal. Despite outstanding general economic results, Chile continues to struggle with a variety of socio-economic problems, including the highest level of economic inequality among developed countries, a high level of dissatisfaction with health care and education services, and a troublesome marriage of high cost of living and one of the lowest minimum wage levels among OECD countries. Chile's socio-economic shortfalls resonate especially deeply among the country's youth as they have never lived under a poor economy with a dictatorial regime and compare today's Chile with economic opportunities in other developed countries. The question now is how far and how fast will reforms come to the population that was mobilized by what the government now acknowledges was a poorly implemented policy adjustment.

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Global Inequality Remains Extremely High //pt.knoema.com/vlgywqb/global-inequality-remains-extremely-high 2021-11-09T14:03:17Z Misha Gusev pt.knoema.com://pt.knoema.com/user/1000560
Global Inequality Remains Extremely High

(09 September 2021) Inequality in the distribution of income is one of the most important measures of the quality of economic development, along with changes in the overall level of per capita income. However, national statistics offices typically devote much less time and resources to investigating income inequality indicators than traditional economic indicators such as GDP. As a result, official statistics on income inequality are scarce, and inconsistent across countries, making it difficult to measure the evolution of inequality at the global level. Working with the World Inequality Database, two researchers from the Paris School of Economics — Lucas Chancel and Thomas Piketty – have made a significant contribution toward filling this data gap by constructing world income distribution estimates from 1820 to 2020. Some key findings:The level of global income inequality has always been very large and has grown significantly in the industrial era. The ratio of average annual income of the wealthiest 10% of population to the average annual income of the bottom 50% of the population by income level (Top10/Bottom50 ratio) increased from 18.5 to 41.1 between 1820 and 1900 and averaged around 40 between 1900 and 2020.In 2020 the richest 10% of people got over 50% of global income, while the poorest 50% of people got less than 10% of global income. The richest 1% of population got three times more of the world's total income than the poorest 50%. And the richest 0.1% of population had the same amount of income as the poorest 50%. These proportions in global income distribution have not changed significantly since the beginning of the twentieth century. Chancel and Piketty believe decreasing income inequality can be achieved through fiscal revenue sharing, when part of income earned by the richest population is redistributed by government in favor of the poorest poorest. Their estimates show that the U.S. government already redistributes around 7% of national income from the top 10% to the bottom 50% of the U.S. population.

Misha Gusev pt.knoema.com://pt.knoema.com/user/1000560
Growing Inequity Highlighted in US President Biden's Inaugural Speech //pt.knoema.com/gixoivf/growing-inequity-highlighted-in-us-president-biden-s-inaugural-speech 2021-10-09T14:16:07Z Misha Gusev pt.knoema.com://pt.knoema.com/user/1000560
Growing Inequity Highlighted in US President Biden's Inaugural Speech

(20 January 2020) One of the most sensitive economic effects of COVID is the reality that millions have lost their jobs. And, contrary to economic crises of the past that tended to narrow the gap between the rich and the poor, the corona-crisis has only widened that gap, a point US President Biden featured in his inaugural address today, "... Folks, this is a time of testing. We face an attack on our democracy and on truth, a raging virus, growing inequity, the sting of systemic racism, a climate in crisis, ..."   Unprecedented government stimulus and the partial cancellation of COVID containment restrictions boosted the US economic recovery and thereby eased the US labor market to steadier ground during 2020. The problem is the recovery has unequally benefited high-wage workers. According to the Economic Tracker from Opportunities Insights, high-wage workers were reemployed by the end of May 2020, while only 80 percent of low wage workers were able to return to work. In December 2020, the number of employed low wage workers dropped still lower to 75 percent of the pre-COVID level.Unequal recovery of labor market for high and low wage workers can partly be explained by unequal opportunities to telework. According to a BLS survey, workers with lower wages and formal educational requirements have far fewer remote work options than high wage employees.In eight US states (Alaska, California, Hawaii, Illinois, Maine, Minnesota, Oregon and Vermont) the percent of low wage workers who were unable to return to work is close to or greater than 30 percent. The disproportionately high burden of the COVID pandemic on low wage workers is not localized to the United States only. Research by Eurostat linking the labor market impact of COVID-19 on workers with their income situation also shows that low wage workers in the European Union are under higher risk of temporary lay off/reduced hours and job loss compared to high wage employees. In 2020 income loss by low wage earners was 3-6 times larger than high wage earners in half of the EU Member States.

Misha Gusev pt.knoema.com://pt.knoema.com/user/1000560
Basic Income: A Way Out of Poverty in a Time of Pandemic or Utopia //pt.knoema.com/bgxyrtd/basic-income-a-way-out-of-poverty-in-a-time-of-pandemic-or-utopia 2020-12-25T10:52:35Z Misha Gusev pt.knoema.com://pt.knoema.com/user/1000560
Basic Income: A Way Out of Poverty in a Time of Pandemic or Utopia

(23 September 2020) Sir Thomas More introduced the concept of basic income* in Utopia back in 1516. It's a simple concept: Eliminate poverty by guaranteeing a basic level of income. The New Jersey Income Maintenance Experiment (1968-1972) was the first basic income experiment and has since been followed by more than 40 experiments across 14 countries, including 16 ongoing, and another 5 experiments planned for 2020 or later. From an experimental perspective with small groups of participants (as opposed to whole economies), the data demonstrates that basic income helps to eradicate poverty and without many of the anticipated negative effects. The labor pool remained strong even with basic income guarantees, however, female participants did increase time spent on childcare while others pursued additional education.Beyond basic necessities, recipients spent additional income on consumer capital goods and assets, rather than on alcohol and tobacco as some feared would occur.In addition, basic income improved nutrition, health, and the reported general psychological state of recipients. Children benefited, in particular, with incidents of child labor and crime decreasing and primary and secondary education participation rates increasing. So, while the idea of basic income may have appeared on the public stage more than 500 years ago, we had to wait until the 20th century for broad political and public discussion to trigger experimentation globally. The findings from these experiments could not be more relevant than in this time of COVID as governments worldwide evaluate new policy approaches for economic stimulus and general resilience to avoid future economic slowdowns from shocks like the COVID-19 pandemic.   *Definition: Basic Income is a periodic cash payment unconditionally delivered to all on an individual basis, without means-test or work requirement. BIEN

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Gini Coefficient and Lorenz Curve Around the World //pt.knoema.com/crmndag/gini-coefficient-and-lorenz-curve-around-the-world 2020-03-27T17:53:11Z Alex Kulikov pt.knoema.com://pt.knoema.com/user/1847910
Gini Coefficient and Lorenz Curve Around the World

Gini index measures the extent to which the distribution of income (or, in some cases, consumption expenditure) among individuals or households within an economy deviates from a perfectly equal distribution. A Lorenz curve plots the cumulative percentages of total income received against the cumulative number of recipients, starting with the poorest individual or household. The Gini index measures the area between the Lorenz curve and a hypothetical line of absolute equality, expressed as a percentage of the maximum area under the line. Thus a Gini index of 0 represents perfect equality, while an index of 100 implies perfect inequality.

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Measuring National Performance //pt.knoema.com/kvvkzde/measuring-national-performance 2020-03-12T01:48:47Z Misha Gusev pt.knoema.com://pt.knoema.com/user/1000560
Measuring National Performance

Global economic and social systems are changing rapidly as a result of technology. The metrics that we use to measure national performance were primarily designed for the industrial economies of the early-mid 20th century. Gross domestic product (GDP), for example, is a measure of the value of final goods and services produced in a place over a time period. This may not be the best measurement in a economic system that is becoming increasingly digital and global, and it certainly does not holistically measure national prosperity. Performance measurement is important. Investors use GDP to assess risk and opportunity, which drives important capital allocation decisions. Policymakers use GDP to assess national performance, drive important policy and regulatory decisions. These decisions have real impacts on people’s careers, communities, and lives. Better data and metrics that more closely resemble reality are needed to facilitate better decisions and outcomes.  Do the commonly-used metrics adequately reflect growth and national performance in the modern economy? This dashboard allows you to compare GDP and several alternative measures of socioeconomic development to see how they correlate and diverge in different countries. 

Misha Gusev pt.knoema.com://pt.knoema.com/user/1000560
Bill Gates Net Worth is Bigger than GDP of 130 Countries //pt.knoema.com/wqezguc/bill-gates-net-worth-is-bigger-than-gdp-of-130-countries 2020-02-21T14:49:56Z Alex Kulikov pt.knoema.com://pt.knoema.com/user/1847910
Bill Gates Net Worth is Bigger than GDP of 130 Countries

According to the 2019 Forbes Billionaires List, the aggregate wealth of the world's 1,810 billionaires is approximately $8.9 trillion, exceeding the GDP of Japan, the world's third-largest economy with a GDP of $4.4 trillion. In other words, the wealth of 0.00002% of the world's population accounts for 9 percent of the world's GDP of about $74 trillion. How do we measure the net worth of a billionaire? The estimate is based on total asset value, including stakes in public and private companies, real estate, yachts, art, and cash. If a person were a country, we'd measure GDP, which is commonly defined as the sum of the final uses of goods and services (excluding intermediate consumption) measured at purchasers’ prices, less the total value of imported goods and services. Based on this net worth-GDP comparison, we can draw the following comparisons from the Forbes 2016 data:Microsoft co-founder Bill Gates, the richest person in the world, has a net worth of $75 billion. Gates' net worth is greater than the GDP of 122 countries. If he were to liquidate all of his assets, Gates could purchase all of the final goods and services supplied by Myanmar in a single year.Following the same logic, America's billionaires could chip in their combined assets in exchange for the annual production of goods and services in India.   The United States is home to the largest number of billionaires (540 persons), accounting for 30 percent of the world's billionaires and 37 percent, or $2.4 trillion, of the group's aggregate wealth. The net worth of America's billionaires represents a remarkable 12 percent of US GDP. The next five countries by the number of billionaires are China (251), Germany (120), India (84), Russia (77) and Hong Kong (64). Compared to Forbes' survey one year ago, China demonstrated the largest gain in billionaires, adding 38 new billionaires to the ranking. If this trend continues, China will have more billionaires than the United States in 7 to 8 years.

Alex Kulikov pt.knoema.com://pt.knoema.com/user/1847910
The Second Decade of the 21st Century is Coming to a Close - What's Ahead? //pt.knoema.com/dhwtqrg/the-second-decade-of-the-21st-century-is-coming-to-a-close-what-s-ahead 2019-12-19T12:02:11Z Misha Gusev pt.knoema.com://pt.knoema.com/user/1000560
The Second Decade of the 21st Century is Coming to a Close - What's Ahead?

In 2019, we gathered the data, created the visualizations, and shared with you global factors driving economic activity, socioeconomic conditions, and global events. As we move into the third decade of the 21st century, we are taking a moment to connect our insights from 2019 to our outlook on global trends that we believe will shape the world economy during the next 10 years. Here we share our top 5 trends to watch.

Misha Gusev pt.knoema.com://pt.knoema.com/user/1000560
What if the World's Wealthiest Gave Away Their Fortunes to the Poorest? //pt.knoema.com/ffxqhye/what-if-the-world-s-wealthiest-gave-away-their-fortunes-to-the-poorest 2016-09-22T19:06:45Z Alex Kulikov pt.knoema.com://pt.knoema.com/user/1847910
What if the World's Wealthiest Gave Away Their Fortunes to the Poorest?

Every poor person in the United States would get a one-time payout of $1,736 if Bill Gates—the richest US citizen—distributed the total value of his assets equally among the US population living below the poverty line. This data is based on analysis from the Robin Hood Index, created by Bloomberg, which compares the net worth of the richest billionaires in 42 countries with the number of individuals below the national poverty line in those same countries to show the theoretical gain to the poor from the distribution of each country's wealthiest citizen.According to the most recent index, the poor of Cyprus, Sweden and Taiwan would stand to gain the most from the distribution of the assets of their richest compatriots. Every poor person would gain $45,987, $33,149, and $26,957, respectively, sums that would last a person living on $1.9 a day in the range of 39 to 66 years.Payout of the wealthiest individual's assests in India, the second most populous country in the world, would be the smallest of any of the countries captured in the Robin Hood Index. The size of the windfalls in the top ranked countries are unsurprising given the small populations and relatively high living standards of these countries. Cyprus, Sweden, and Taiwan are each in the top 30 countries by GDP per capita. In sharp contrast, with about 20 percent of the population of India living in poverty, the $19.2 billion net worth of the richest Indian would amount to only $59 per poor person in India, or approximately one month at $1.9 per day. The Robin Hood Index represents just one of many methods to help us to understand how unequally the world's wealth is distributed. A wide range of statistical measures exist to support analysis of income inequality. Following are three examples:According to Oxfam, 85 of the world's richest people have a combined wealth that is nearly equal to the wealth of the 3.5 billion people belonging to the bottom 50 percent population of the world by income.The World Top Incomes Database shows that the ultra-wealthy in the United States are the most powerful in the world. A mere 0.01 percent of the US population holds about 3 percent of the US’ national wealth.One could also compare the wealth of the world's richest people to national GDPs to analyze income distribution. Based on the Forbes World's Billionaires list, the combined wealth of world’s 1,810 billionaires—only 0.00002% of the total global population—equals 9 percent of the world's GDP.

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Income Share Held by Ultra Wealthy Population //pt.knoema.com/zqgeibd/income-share-held-by-ultra-wealthy-population 2016-05-24T08:07:41Z Alex Kulikov pt.knoema.com://pt.knoema.com/user/1847910
Income Share Held by Ultra Wealthy Population

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Top 1% average income //pt.knoema.com/wcrevbg/top-1-average-income 2016-04-27T13:27:38Z Misha Gusev pt.knoema.com://pt.knoema.com/user/1000560
Top 1% average income

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The Global Multidimensional Poverty Index (MPI) 2015 //pt.knoema.com/fedimhc/the-global-multidimensional-poverty-index-mpi-2015 2016-03-18T19:44:56Z Alex Kulikov pt.knoema.com://pt.knoema.com/user/1847910
The Global Multidimensional Poverty Index (MPI) 2015

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Inequality of income distribution in Europe //pt.knoema.com/afakbmf/inequality-of-income-distribution-in-europe 2016-02-29T06:45:00Z Misha Gusev pt.knoema.com://pt.knoema.com/user/1000560
Inequality of income distribution in Europe

Misha Gusev pt.knoema.com://pt.knoema.com/user/1000560
Personal Income: US Counties //pt.knoema.com/jcthnt/personal-income-us-counties 2015-08-06T16:19:19Z Alex Kulikov pt.knoema.com://pt.knoema.com/user/1847910
Personal Income: US Counties

Personal incomes vary greatly among counties across the United States. While in New York County, New York, the average personal income per capita was about $122,000 in 2013, in Telfair, Georgia it was seven times lower at only $17,500. In the poorest 100 counties in the US, per capita income is less than $26,500 ($2,208 per month) on average. The level of economic well-being strongly correlates with Supplemental Nutrition Assistance Program (SNAP, the former Food Stamp Program) participation rates on a county-by-county basis. In counties with relatively high incomes, the number of SNAP recipients is generally less than 5 percent of the population, while in low-income counties participation rates reach or exceed 50 percent. For example, in Shannon and Todd counties, South Dakota, the absolute majority of residents receive SNAP benefits (62% and 56% as of 2012, respectively). However, the correlation is not perfect. In some upper-middle-income counties SNAP participation rates are elevated because of high unemployment, among other factors. Source: US Regional Data (County Wise) - Monthly Update, July 2015

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World Top Incomes and Inequality //pt.knoema.com/zbolyfc/world-top-incomes-and-inequality 2015-05-09T19:52:48Z Alex Kulikov pt.knoema.com://pt.knoema.com/user/1847910
World Top Incomes and Inequality

In 2013 the average income of the Top-1% Americans reached 1.12 million dollars (including capital gains): 35 times higher than the average income of the 90% of the population. According to the data from The World Top Incomes Database, maintained by the Paris School of Economics, top-10% most wealthy persons for now share about one half of overall personal income in the US. Such a large Top-10% income share have not be seen even in Great Depression. The overall inequality, as measured by the Pareto-Lorenz coefficient (inversed), has increased to the highest levels in about the century. Less than 60% of the most rich persons' income in the US and other countries comes from wages and salaries. The huge parts are rents, entrepreneurial income and capital gains from investments. The share of non-wage income decreasing along with overall income level. For the bottom 90% of the population capital gains make up only 2% of the total. Choose the country from the list at the top of the page to explore the data on the incomes and inequality Please note that the top income share series are constructed, in most of the cases presented in this database, using tax statistics, which tend to underestimate the top income levels because of tax avoidance and tax evasion. Also, definition of income and the unit of observation (the individual vs. the family) vary across countries and even within some country-level time-series, there are breaks in comparability that arise because of changes in tax legislation affecting the definition of income. For further methodological details please consult The Top Incomes Database home page and the corresponding papers

Alex Kulikov pt.knoema.com://pt.knoema.com/user/1847910
Billionaires & Paupers. Global inequality and the Forbes //pt.knoema.com/qciezbe/billionaires-paupers-global-inequality-and-the-forbes 2015-01-22T07:35:02Z Alex Kulikov pt.knoema.com://pt.knoema.com/user/1847910
Billionaires & Paupers. Global inequality and the Forbes

   According to data prepared by Oxfam International for Annual Meeting in Davos, in 2014 the wealth of 80 world's richest people exceeded total wealth of more than 3 500 000 000 (three and half billion) people belonging to bottom 50% population of the world by incomes. If growing inequality trend, which got a fresh start since 2009, continues, then top 1% of world population will be wealthier than bottom 99% by the end of next year. For now, 80 richest billionaires have net worth of about 1.9 trillion dollars and the richest in 2014 according to Forbes was Bill Gates, with net worth of $76 billion. Next one is Carlos Slim from Mexico ($72 bln) and the third is Spanish businessman Amancio Ortega ($64 bln). Select your favourite billionaire from the list on the ranking gadget and see how his worth changed through time

Alex Kulikov pt.knoema.com://pt.knoema.com/user/1847910