Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Inequality’

Capital accumulation, private property, and inequality in China, 1978-2015

Posted by hkarner - 21. Juli 2017

Thomas Piketty, Li Yang, Gabriel Zucman 20 July 2017, vox.eu

Between 1978 and 2015, China moved from a poor, underdeveloped country to the world’s leading emerging economy. Despite the decline in its share of world population, China’s share of world GDP increased from less than 3% in 1978 to about 20% by 2015 (Figure 1). According to official statistics, real national income per adult grew more than eightfold between 1978 and 2015. While the average national income per adult was approximately €120 per month in 1978 (expressed in 2015 euros), it exceeded €1,000 per month in 2015 (Figure 2).1 Den Rest des Beitrags lesen »

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Why Do Cities Become Unaffordable?

Posted by hkarner - 18. Juli 2017

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If the state got out of the redistribution business

Posted by hkarner - 15. Juli 2017

Date: 13-07-2017

Source: The Economist

Without governments, would countries have more inequality, or less?

Angus Deaton, a Nobel prize-winning economist, explores a question that intrigued him

IF WE were somehow to abolish its government, would America become less equal? Would Britain?

The obvious answer is yes; many see the reduction of market inequality as one of the main tasks of the state in a mixed economy. And indeed, across the mostly rich economies of the OECD, post-tax incomes are more equally distributed than pre-tax incomes.

But this simple understanding is seriously incomplete—both factually, and in its view on the way governments behave.

The standard case, which all economists learn, is that competitive markets are efficient, in the precise but limited sense that in a well-functioning free market it is impossible to make anyone better off without hurting at least one other person. Nothing in this guarantees an acceptable distribution of income; one person having everything can be perfectly efficient. Den Rest des Beitrags lesen »

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The G20 and the Inequality Crisis

Posted by hkarner - 9. Juli 2017

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Draghi Says ECB Policy Has Helped Reduce Inequality

Posted by hkarner - 28. Juni 2017

Date: 27-06-2017
Source: The Wall Street Journal

ECB chief indicates it would be counterproductive to withdraw stimulus too soon
Mario Draghi speaks to university students in Lisbon on Monday.

Mario Draghi speaks to university students in Lisbon on Monday.

LISBON—European Central Bank President Mario Draghi defended the impact
of the bank’s stimulus policies on Europe’s youth Monday, arguing that keeping interest rates low had helped create jobs and reduce inequality.

The rare question-and-answer session with Mr. Draghi, at a university in Lisbon, comes at a sensitive time for the ECB, which is preparing to discuss how to start withdrawing policies such as negative interest rates and a €2.3 trillion ($2.6 trillion) bond-buying program.

Pressure is mounting in Northern Europe for a policy change from Frankfurt, but Southern European countries face a different economic reality, with youth unemployment rates reaching up to 45%. Den Rest des Beitrags lesen »

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The Global Economy in 2067

Posted by hkarner - 22. Juni 2017

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Früher war alles schlechter

Posted by hkarner - 19. Juni 2017

Date: 18-06-2017
Source: DER SPIEGEL

Die Reichen werden reicher – die Armen aber auch

Der Anteil der Menschen in extremer Armut hat in den vergangenen Jahrzehnten stark abgenommen. Den Vermögenden dieser Welt geht es zwar immer besser; doch auch die Schwachen haben zunehmend mehr zum Leben.

Die Zahl der Menschen mit mehr als 10 Dollar pro Tag ist enorm gewachsen. Angaben in internationalen Dollar 1990

Es ist nicht gerecht, wenn acht Männer so viel Geld besitzen wie 3,6 Milliarden Menschen. Doch dieses Phänomen begleitet uns seit Jahrhunderten. Die Einkommensungleichheit geht für gewöhnlich nur in Krisenzeiten zurück – während des Zweiten Weltkriegs etwa oder in Folge der Finanzkrise. Doch gerade in den USA entfernen sich die Top-1-Prozent immer weiter vom Rest ihrer Mitbürger. Den Rest des Beitrags lesen »

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Wages through the ages

Posted by hkarner - 16. Juni 2017

Date: 15-06-2017
Source: The Economist

What history says about inequality and technology

The recent rise in earnings for skilled workers is a rare phenomenon

ONE factor behind the rise of income inequality in America over the past four decades is that the labour market has increasingly favoured the well-educated. Real wages for college graduates have risen by over a third since 1963, whereas wages for those without high-school diplomas have dropped. As more of the economy becomes automated, doomsayers worry that the gap between the haves and the have-nots will only grow. History shows, however, that this need not be so.

The recent rise in earnings for skilled workers is a rare historical phenomenon. Compiling records from churches, monasteries, colleges, guilds and governments, Gregory Clark, an economist at the University of California, Davis, has put together a comprehensive dataset of English wages that stretches back to the 13th century. Mr Clark notes that in the past the skilled-wage premium, defined as the difference in wages between craftsmen, such as carpenters and masons, and unskilled labourers has been fairly stable, save for two sharp declines (see chart).

The first drop came in the 14th century, and had nothing to do with technological change. Den Rest des Beitrags lesen »

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Labor Markets in the Age of Automation

Posted by hkarner - 8. Juni 2017

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Jobs in the Age of Artificial Intelligence

Posted by hkarner - 31. Mai 2017

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