Wealth or income?

Michael Roberts Blog

Most discussions on inequality, whether between nations globally or within nations, take place around income.  Data and papers on inequality of income are profuse, particularly on the rise in most major economies since the 1980s and the cause of it.  I have covered many of these papers; the conclusions and causes; in many posts. 

Related to the debate around inequality of income is also the issue of ‘poverty’: how to define and measure it and whether poverty globally and within economies has risen or fallen. A recent report by the World Economic Forum, found that income inequality has risen or remained stagnant in 20 of the 29 advanced economies while poverty has increased in 17. Income inequality has increased more rapidly in North America, China, India and Russia than anywhere else, notes the World Inequality Report 2018 produced by the World Inequality Lab, a research center based at…

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