George Osborne should come clean over who wins or loses in his budget. When thousands of poor American families saw the homes they had loved and saved for seized by the banks in the depths of the sub-prime mortgage crisis, it was scant comfort that they had only been able to afford to clamber on to the property ladder in the first place because of reckless lenders, toothless regulators and short-sighted politicians.
Losing your home is losing your home. Yet when George Osborne contemplates the cuts many households will face as a result of his planned reductions in tax credits – three million will lose £1,000 a year, says the Institute for Fiscal Studies – he wants to kid us, and maybe himself, that it doesn’t matter because the state could ill afford such generosity to the needy in the first place. Growth’s Secret Weapon: The Poor and the Middle Class. By Era Dabla-Norris, Kalpana Kochhar, and Evridiki Tsounta (Versions in Español, 中文 , 日本語, عربي,and Русский) The gap between the rich and the poor is at its widest in decades in advanced countries, and inequality is also rising in major emerging markets (Chart 1).
It is becoming increasingly clear that these developments have profound economic implications. Earlier IMF work has shown that income inequality is bad for growth and its sustainability. Our new research shows that income distribution itself—not just the level of income inequality—matters for growth. Specifically, we find that making the rich richer by one percentage point lowers GDP growth in a country over the next five years by 0.08 percentage points—whereas making the poor and the middle class one percentage point richer can raise GDP growth by as much as 0.38 percentage points (Chart 2).
Oxfam Campaigns sur Twitter : "Oh, what's that? Obama quoting our #inequality stat? Barack Obama: The Vox Conversation. In his 2007 book The Audacity of Hope, then-Sen.
Barack Obama laid out his theory of America's political and policy problems as it stood on the eve of his first presidential campaign. He worried, he said, about "the gap between the magnitude of our challenges and the smallness of our politics. " On January 23, he sat down with Vox for a wide-ranging interview about his theory of America's political and policy problems as it stands at the beginning of the seventh year of his presidency. Institute for the Study of Labor. This website uses Google Analytics, a web analytics service provided by Google, Inc. ('Google').
Google Analytics uses 'cookies', which are text files placed on your computer, to help the website analyze how users use the site. Why extreme inequality hurts the rich. 19 January 2015Last updated at 04:39 ET "We could have developed a vaccine for Ebola years ago if we had chosen to allocate the resources to the appropriate research".
That is what a senior and respected medical scientist, a man who would be seen as a world authority on such matters, said to me. So why wasn't the cure found? The relevant research didn't happen because Ebola was seen for a long time to be a disease only of the poor, especially in Africa - and therefore the giant pharmaceutical manufacturers couldn't see how to make big money out of an Ebola medicine. Today of course it is clear that Ebola is a global threat - and hence there is a mad rush to find a treatment. What the preventable tragedy of Ebola shows is that in a globalised world the interests of rich and poor are frequently the same - although it is hard for businesses to recognise this mutuality of interest when driven to make short-term profits.
“Start Quote End Quote 19 January 2015Last updated at 04:39 ET “Start Quote. Living Wage 'key' for tackling health inequalities. 9 December 2014Last updated at 08:03 ET The new report suggests the Living Wage is better for tackling health inequality than health initiatives Changes to tax and benefit systems have more impact on health inequalities than changes to healthcare, new study found.
Researchers said the introduction of a Living Wage and benefit increases made more difference than schemes to help lose weight or stop smoking. The study was carried out by the Scottish Public Health Observatory. It also concluded an increase in active travel - such as cycling to work - had a "minimally positive effect" on population health.
Taxation on tobacco had a positive impact on health but made little difference to health inequalities, the study suggested. Revealed: how coalition has helped rich by hitting poor. Oxfam Campaigns sur Twitter : "There's rich. And then there's the megarich. #inequality... Chart: Big Gains for the 1 Percent of the 1 Percent. We'll be posting a new chart on the current state of income inequality every day for the next couple of weeks.
Why Inequality is a (very) Big Deal, and you need to get involved. A few years ago I was touring the US to promote my book, From Poverty to Power, which focuses on inequality and redistribution.
Big mistake. Fp2p : Dilbert does income #inequality ... Grammar schools 'barred from giving priority to the poor' MiamiLib : Conservative Confusion #p2... UK mortgage approvals near six year high in October. Life expectancy in England and Wales highest in East Dorset. People in East Dorset have the highest life expectancy in the country, according to the latest official figures which show a continuing stark north-south divide.
Both men and women appear to benefit from the climate or, more likely, the lifestyle of East Dorset, which extends from Weymouth on the coast inland to Dorchester and Blandford Forum. In 2009-11, according to the Office for National Statistics, it had the highest male life expectancy at birth in England and Wales, which was 83 years. Women also had the highest life expectancy there, at 86.4 years. UN warns global youth unemployment will continue to rise.