Published on Oxfam America’s Politics of Poverty blog
Is there an ideological sea change occurring at the International Monetary Fund when it comes to redistribution, inequality, and economic growth?
Here are three dangerous economic myths about the world in which we live:
#1 The Rich-Drive-The-Economy Myth: Taxing the rich to give to the poor hurts the economy because it stifles economic growth.
Published on Oxfam America’s Politics of Poverty blog
It’s time they pay their taxes, stop using wealth to influence politics.
Whew! What a week for Oxfam!
On Monday, we released a new report on global inequality, “Working For the Few: Political Capture and Economic Inequality,” targeted at the participants attending the World Economic Forum in Davos this week. These folks represent the global economic elite – the real movers and shakers of the world economy who heavily influence economic policymaking.
The media response has been overwhelming. Here’s a sample: Continue reading
Published on Oxfam America’s Politics of Poverty blog
Global development leaders need better data to keep their eyes on the 1%.
How should the world measure and address inequality for a post 2015 development framework?
This question was the focus of last week’s forum at the Center for Global Development. The event was timely, given theUnited Nations General Assembly is convening this week in New York, and an important discussion concerns what will supersede the Millennium Development Goals (MDGs) when they expire. Continue reading
Published on Oxfam America’s Politics of Poverty blog
Great reads to add to your (late) summer reading list
1) The Haves and the Have-Nots: A Brief and Idiosyncratic History of Global Inequality by Branko Milanovic
This is a must read for anyone interested in both income inequality and great storytelling.Milanovic, who is Lead Economist in the World Bank research group, is uniquely gifted among researchers. In The Haves and the Have-Nots, he uses literature, history, and humor to explain the complexities of inequality both throughout time and in the current system. Throughout Branko ‘schools’ the reader with quick economics lessons, then follows with captivating vignettes exploring how the concepts operate in the real world. The Haves and the Have-Nots is one of my all-time favorite books on inequality, and it’s certainly one of the most entertaining reads within economics. Continue reading
Published on Oxfam America’s Politics of Poverty blog
A serious critique of the new UN goals
The much-anticipated recommendations for a post-2015 agenda report is bold and full of optimism, as my Oxfam colleagues acknowledge (a welcome treat in an otherwise uncertain era). I especially like the authors’ certainty that we can eradicate extreme poverty from the earth by 2030. Continue reading
Published at The Broker Online
Food price hikes, natural disasters, environmental degradation, and financial crises share at least two things in common: They’re on the rise, and they unequally burden the poor.
Food price hikes, natural disasters, environmental degradation, and financial crises share at least two things in common: They’re on the rise, and they unequally burden the poor.
Published on Oxfam America’s Politics of Poverty blog
As inequality increases, more questions than answers?
Here are the facts:
Income inequality in the US continues to worsen. While earners at the very top claim greater shares of the country’s income distribution, shares among the rest are shrinking. Continue reading
Published on Oxfam America’s Politics of Poverty blog
It’s time to move the discussion from absolute to relative gains.
Is it better to gain absolutely or relatively?
For example, free trade agreements promise all members economic benefits (absolute gains); although some members will benefit more than others (relative gains).
Published on Oxfam America’s Politics of Poverty blog
Economic growth—the kind America enjoyed during its longest decades of prosperity —does not happen in countries with chronic income inequality.
As the President works to put the American economy back on track in his second term, I think the mandate of the election is clear, if Obama will listen.
Among developed countries, the United States has the highest levels of inequality. This is an unsettling trend that has worsened over the past three decades. As we know, chronic inequality is bad for growth and threatens macroeconomic stability. Societies with high income inequality also suffer from greater health and social ills (including crime, sickness, violence, shorter life spans, & stress) than more equal ones. Continue reading
Published on Oxfam America’s Politics of Poverty blog
Last week, the World Bank released a new report assessing declining income inequality over the 2000s in Argentina, Brazil, and Mexico. Each country experienced significant reductions in inequality over the last decade. This finding is not new, but the authors helpfully tease out some nuance behind the trend. Their findings suggest two factors drove the […] Continue reading