This special report will explore how 21st-century capitalism should respond to the present challenge; it will examine the recent history of both inequality and social mobility; and it will offer four contemporary case studies: the United States, emerging Asia, Latin America and Sweden. As the two adapt to the simple Amish lifestyle, they begin to reconnect. For them, doing time might be easier than living the life of leisure out in the country. Emerging economies are more unequal than rich ones. The best-known way of measuring inequality is the Gini coefficient, named after an Italian statistician called Corrado Gini. As the two adapt to the simple Amish lifestyle, they begin to reconnect.
A survey for the World Economic Forum meeting at Davos pointed to inequality as the most pressing problem of the coming decade alongside fiscal imbalances. Based on this evidence it will make three arguments. Although inequality has been on the rise for three decades, its political prominence is newer. The bank rescues shone a spotlight on the unfairness of a system in which affluent bankers were bailed out whereas ordinary folk lost their houses and jobs. It reflects market and government failures that also reduce growth.
Equally, inequality of outcomes might be acceptable if the gaps are between young people and older folk, so may shrink over time. The latter issue becomes a pressing matter when they discover that their accountant has embezzled millions and pinned the blame on them. Casper Sound Re-Recording Mixer Sound Daniel J. And like any snapshot, the picture can be misleading. Pretending to be long lost relatives, they move in with a family to lay low. Income gaps can arise for good reasons such as when people are rewarded for productive work or for bad ones if poorer children do not get the same opportunities as richer ones.
Get our daily newsletter Upgrade your inbox and get our Daily Dispatch and Editor's Picks. More controversial studies purport to link widening income gaps with all manner of ills, from obesity to suicide. For Richer Or Poorer Trailer 1997 Director: Bryan Spicer Starring: Kirstie Alley, Larry Miller, Michael Lerner, Tim Allen, Wayne Knight, Jay O. Inequality, as measured by Gini coefficients, is simply a snapshot of outcomes. The numbers of the ultra-wealthy have soared around the globe. Even poor people have televisions, air conditioners and cars. Supervising Sound Editor Sound Michael C.
But in a world of nation states it is inequality within countries that has political salience, and this special report will focus on that. Third, there is a reform agenda to reduce income disparities that makes sense whatever your attitude towards fairness. Brad Sexton and his wife, Caroline, are wealthy New Yorkers with both marital and financial problems. The Occupy Wall Street campaign proved incoherent and ephemeral, but inequality and fairness have moved right up the political agenda. The level of inequality differs widely around the world. That changed after the crash.
Americans and Chinese put more emphasis on equality of opportunity. Too often high-tax welfare states turned out to be inefficient and unsustainable. For Richer or Poorer Trailer 1997 11 December , , 115 mins Brad Sexton and his wife, Caroline, are wealthy New Yorkers with both marital and financial problems. From U to N The widening of income gaps is a reversal of the pattern in much of the 20th century, when inequality narrowed in many countries. It is not about higher taxes and more handouts. Europeans tend to be more egalitarian, believing that in a fair society there should be no big income gaps.
It can boost growth, because richer folk save and invest more and because people work harder in response to incentives. But the past 30 years have put paid to the Kuznets curve, at least in advanced economies. Comments Have you watched For Richer or Poorer yet? With 250 rooms spread over 175,000 square feet 16,000 square metres , the mansion was 300 times bigger than the average dwelling of its day. Some societies are more concerned about equality of opportunity, others more about equality of outcome. The concentration of wealth at the very top is part of a much broader rise in disparities all along the income distribution.
The mainstream consensus has long been that a growing economy raises all boats, to much better effect than incentive-dulling redistribution. The widening gaps within many countries are beginning to worry even the plutocrats. . In theory, inequality has an ambiguous relationship with prosperity. The latter issue becomes a pressing matter when they discover that their accountant has embezzled millions and pinned the blame on them. The democratisation of living standards has masked a dramatic concentration of incomes over the past 30 years, on a scale that matches, or even exceeds, the first Gilded Age. It had central heating, an indoor swimming pool, a bowling alley, lifts and an intercom system at a time when most American homes had neither electricity nor indoor plumbing.