Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | What rising inequality means -S Irudaya Rajan and Udaya S Mishra    </title>
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Redistribution measures have been ineffective and there are no policies discouraging accumulation of income and wealth

The COVID-19 pandemic has exposed the stark divide between the rich and the poor. At this juncture, evaluating the state of inequality serves as..."/>
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Redistribution measures have been ineffective and there are no policies discouraging accumulation of income and wealth

The COVID-19 pandemic has exposed the stark divide between the rich and the poor. At this juncture, evaluating the state of inequality serves as..." />
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		 Published on</span><span class="text-date"> Dec 21, 2021</span>
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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>Redistribution measures have been ineffective and there are no policies discouraging accumulation of income and wealth</em></p><p style="text-align:justify">The COVID-19 pandemic has exposed the stark divide between the rich and the poor. At this juncture, evaluating the state of inequality serves as an eye-opener on the income/wealth divides prevailing across regions. Such divides are represented in terms of the share of income/wealth among the top 10% of the population against the bottom 50% of the population. With regard to income, the top 10% of the global population share 52% of the total income, while the bottom half survives with a mere 8.5% of it. This leaves the 40% in the middle with 40% of the income. This distribution shows the tendency of a rising middle class with lower disparity in income, but it also shows that the status of the poor is worsening day by day. In terms of wealth, the top 10% of the global population own 76% of the total wealth, while the bottom 50% share a mere 2%. The practice of unabated accumulation has been possible in the absence of effective measures of redistribution on the one hand and the absence of measures discouraging undue accumulation on the other.</p><p style="text-align:justify"><em>Levels of inequality</em></p><p style="text-align:justify">This inequality varies across regions. It is moderate in Europe and sharp in Africa. The top 10% have an income share of 36% in Europe vis-&agrave;-vis the top 10% with a share of 58% of the total income in West Asia and North Africa. This disparity shows that worsening inequalities are avoidable with appropriate measures in place. The share of income among the top 10% has been varying across regions indicating that the global picture is an aggregation of the most uneven distribution of income and wealth. While there is an argument in literature that inequalities are a manifestation of the average level of income, as explained by the Kuznets&rsquo; theory, the prevailing pattern across countries does not follow the same. The average income levels seem to be poor predictors of the levels of inequality, with high-income countries such as the U.S. having higher levels of inequality as against countries such as Sweden, which have moderate levels of inequality. Similar contradictions are also seen when we contrast middle-income nations such as Brazil, India and China as against Malaysia and Uruguay. Hence, emerging inequalities are not necessarily an outcome of rising levels of income in the post-liberalisation era, but a depiction of poor redistributive policies towards discouragement of accumulation by governments with due sensitivity towards inequalities. Such a contention is evidenced with the rise in inequalities in the U.S. and India as against a moderate rise in China.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/what-rising-inequality-means/article37999556.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/what-rising-inequality-means/article37999556.ece?homepage=true">click here</a> to read more.<br />&nbsp;</p>                                                           
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    <br><a href="https://www.thehindu.com/opinion/op-ed/what-rising-inequality-means/article37999556.ece?homepage=true " class="re" target="_blank">The Hindu, 21 December, 2021, https://www.thehindu.com/opinion/op-ed/what-rising-inequality-means/article37999556.ece?homepage=true </a><div class="clear"></div>
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    <h1 class="cat-box-title">What rising inequality means -S Irudaya Rajan and Udaya S Mishra</h1>
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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>Redistribution measures have been ineffective and there are no policies discouraging accumulation of income and wealth</em></p><p style="text-align:justify">The COVID-19 pandemic has exposed the stark divide between the rich and the poor. At this juncture, evaluating the state of inequality serves as an eye-opener on the income/wealth divides prevailing across regions. Such divides are represented in terms of the share of income/wealth among the top 10% of the population against the bottom 50% of the population. With regard to income, the top 10% of the global population share 52% of the total income, while the bottom half survives with a mere 8.5% of it. This leaves the 40% in the middle with 40% of the income. This distribution shows the tendency of a rising middle class with lower disparity in income, but it also shows that the status of the poor is worsening day by day. In terms of wealth, the top 10% of the global population own 76% of the total wealth, while the bottom 50% share a mere 2%. The practice of unabated accumulation has been possible in the absence of effective measures of redistribution on the one hand and the absence of measures discouraging undue accumulation on the other.</p><p style="text-align:justify"><em>Levels of inequality</em></p><p style="text-align:justify">This inequality varies across regions. It is moderate in Europe and sharp in Africa. The top 10% have an income share of 36% in Europe vis-&agrave;-vis the top 10% with a share of 58% of the total income in West Asia and North Africa. This disparity shows that worsening inequalities are avoidable with appropriate measures in place. The share of income among the top 10% has been varying across regions indicating that the global picture is an aggregation of the most uneven distribution of income and wealth. While there is an argument in literature that inequalities are a manifestation of the average level of income, as explained by the Kuznets&rsquo; theory, the prevailing pattern across countries does not follow the same. The average income levels seem to be poor predictors of the levels of inequality, with high-income countries such as the U.S. having higher levels of inequality as against countries such as Sweden, which have moderate levels of inequality. Similar contradictions are also seen when we contrast middle-income nations such as Brazil, India and China as against Malaysia and Uruguay. Hence, emerging inequalities are not necessarily an outcome of rising levels of income in the post-liberalisation era, but a depiction of poor redistributive policies towards discouragement of accumulation by governments with due sensitivity towards inequalities. Such a contention is evidenced with the rise in inequalities in the U.S. and India as against a moderate rise in China.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/what-rising-inequality-means/article37999556.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/what-rising-inequality-means/article37999556.ece?homepage=true">click here</a> to read more.<br />&nbsp;</p>                                                           
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    <br><a href="https://www.thehindu.com/opinion/op-ed/what-rising-inequality-means/article37999556.ece?homepage=true " class="re" target="_blank">The Hindu, 21 December, 2021, https://www.thehindu.com/opinion/op-ed/what-rising-inequality-means/article37999556.ece?homepage=true </a><div class="clear"></div>
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        LATEST NEWS UPDATES | What rising inequality means -S Irudaya Rajan and Udaya S Mishra    </title>
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Redistribution measures have been ineffective and there are no policies discouraging accumulation of income and wealth

The COVID-19 pandemic has exposed the stark divide between the rich and the poor. At this juncture, evaluating the state of inequality serves as..."/>
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Redistribution measures have been ineffective and there are no policies discouraging accumulation of income and wealth

The COVID-19 pandemic has exposed the stark divide between the rich and the poor. At this juncture, evaluating the state of inequality serves as..." />
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    <h1 class="cat-box-title">What rising inequality means -S Irudaya Rajan and Udaya S Mishra</h1>
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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>Redistribution measures have been ineffective and there are no policies discouraging accumulation of income and wealth</em></p><p style="text-align:justify">The COVID-19 pandemic has exposed the stark divide between the rich and the poor. At this juncture, evaluating the state of inequality serves as an eye-opener on the income/wealth divides prevailing across regions. Such divides are represented in terms of the share of income/wealth among the top 10% of the population against the bottom 50% of the population. With regard to income, the top 10% of the global population share 52% of the total income, while the bottom half survives with a mere 8.5% of it. This leaves the 40% in the middle with 40% of the income. This distribution shows the tendency of a rising middle class with lower disparity in income, but it also shows that the status of the poor is worsening day by day. In terms of wealth, the top 10% of the global population own 76% of the total wealth, while the bottom 50% share a mere 2%. The practice of unabated accumulation has been possible in the absence of effective measures of redistribution on the one hand and the absence of measures discouraging undue accumulation on the other.</p><p style="text-align:justify"><em>Levels of inequality</em></p><p style="text-align:justify">This inequality varies across regions. It is moderate in Europe and sharp in Africa. The top 10% have an income share of 36% in Europe vis-&agrave;-vis the top 10% with a share of 58% of the total income in West Asia and North Africa. This disparity shows that worsening inequalities are avoidable with appropriate measures in place. The share of income among the top 10% has been varying across regions indicating that the global picture is an aggregation of the most uneven distribution of income and wealth. While there is an argument in literature that inequalities are a manifestation of the average level of income, as explained by the Kuznets&rsquo; theory, the prevailing pattern across countries does not follow the same. The average income levels seem to be poor predictors of the levels of inequality, with high-income countries such as the U.S. having higher levels of inequality as against countries such as Sweden, which have moderate levels of inequality. Similar contradictions are also seen when we contrast middle-income nations such as Brazil, India and China as against Malaysia and Uruguay. Hence, emerging inequalities are not necessarily an outcome of rising levels of income in the post-liberalisation era, but a depiction of poor redistributive policies towards discouragement of accumulation by governments with due sensitivity towards inequalities. Such a contention is evidenced with the rise in inequalities in the U.S. and India as against a moderate rise in China.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/opinion/op-ed/what-rising-inequality-means/article37999556.ece?homepage=true" title="https://www.thehindu.com/opinion/op-ed/what-rising-inequality-means/article37999556.ece?homepage=true">click here</a> to read more.<br />&nbsp;</p>                                                           
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    <br><a href="https://www.thehindu.com/opinion/op-ed/what-rising-inequality-means/article37999556.ece?homepage=true " class="re" target="_blank">The Hindu, 21 December, 2021, https://www.thehindu.com/opinion/op-ed/what-rising-inequality-means/article37999556.ece?homepage=true </a><div class="clear"></div>
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What rising inequality means -S Irudaya Rajan and Udaya S Mishra

Published on Dec 21, 2021   Modified on Dec 21, 2021

-The Hindu Redistribution measures have been ineffective and there are no policies discouraging accumulation of income and wealth The COVID-19 pandemic has exposed the stark divide between the rich and the poor. At this juncture, evaluating the state of inequality serves as an eye-opener on the income/wealth divides prevailing across regions. Such divides are represented in terms of the share of income/wealth among the top 10% of the population against the bottom 50% of the population. With regard to income, the top 10% of the global population share 52% of the total income, while the bottom half survives with a mere 8.5% of it. This leaves the 40% in the middle with 40% of the income. This distribution shows the tendency of a rising middle class with lower disparity in income, but it also shows that the status of the poor is worsening day by day. In terms of wealth, the top 10% of the global population own 76% of the total wealth, while the bottom 50% share a mere 2%. The practice of unabated accumulation has been possible in the absence of effective measures of redistribution on the one hand and the absence of measures discouraging undue accumulation on the other. Levels of inequality This inequality varies across regions. It is moderate in Europe and sharp in Africa. The top 10% have an income share of 36% in Europe vis-à-vis the top 10% with a share of 58% of the total income in West Asia and North Africa. This disparity shows that worsening inequalities are avoidable with appropriate measures in place. The share of income among the top 10% has been varying across regions indicating that the global picture is an aggregation of the most uneven distribution of income and wealth. While there is an argument in literature that inequalities are a manifestation of the average level of income, as explained by the Kuznets’ theory, the prevailing pattern across countries does not follow the same. The average income levels seem to be poor predictors of the levels of inequality, with high-income countries such as the U.S. having higher levels of inequality as against countries such as Sweden, which have moderate levels of inequality. Similar contradictions are also seen when we contrast middle-income nations such as Brazil, India and China as against Malaysia and Uruguay. Hence, emerging inequalities are not necessarily an outcome of rising levels of income in the post-liberalisation era, but a depiction of poor redistributive policies towards discouragement of accumulation by governments with due sensitivity towards inequalities. Such a contention is evidenced with the rise in inequalities in the U.S. and India as against a moderate rise in China. Please click here to read more.

The Hindu, 21 December, 2021, https://www.thehindu.com/opinion/op-ed/what-rising-inequality-means/article37999556.ece?homepage=true

Tagged with: Income Inequality Income Redistribution Inequality Redistribution Wealth Gap Wealth Inequality Wealth Redistribution Wealth Accumulation

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