From 61ea8a18b237c08f329408b87ebbdcc346712836 Mon Sep 17 00:00:00 2001 From: Nate B <43703496+NB419@users.noreply.github.com> Date: Thu, 28 May 2020 16:51:22 -0400 Subject: [PATCH] Create general.md --- wealth_inequality/general.md | 28 ++++++++++++++++++++++++++++ 1 file changed, 28 insertions(+) create mode 100644 wealth_inequality/general.md diff --git a/wealth_inequality/general.md b/wealth_inequality/general.md new file mode 100644 index 0000000..7f1c3f3 --- /dev/null +++ b/wealth_inequality/general.md @@ -0,0 +1,28 @@ +## Wealth Inequality + +#### Inequality is rising and concentrating wealth at the top of the wealthy class, which contributes to worse economic mobility + + + +* [Oxfam 18](https://www.oxfam.org/en/pressroom/pressreleases/2018-01-22/richest-1-percent-bagged-82-percent-wealth-created-last-year) + * **Eighty two percent** of the wealth generated in 2017 **went to the richest one percent** of the global population (Oxfam 2018) + * The **3.7 billion people** who make up the poorest half of the world **saw no increase** in their wealth in 2017. +* [Madsen 16](https://www.monash.edu/__data/assets/pdf_file/0019/906004/1816inequalitymadsenislamdoucouliagos-002.pdf) ([related article by study contributor](https://www.weforum.org/agenda/2017/08/theres-an-argument-for-inequality-its-wrong-and-this-is-why/)) + * Looks at savings, investments, education, and knowledge production in 21 OECD countries spanning 142 years + * Finds that **wealth inequality can negatively impact growth, but that this can be offset in certain states of financial development**, usually in which people have access to the money or credit needed to move up + * Serves better as a counter to _extreme_ wealth inequality than it does to wealth inequality in general - good for defending social safety nets, as those help reduce extreme inequality +* [Pickett 15](https://www.sciencedirect.com/science/article/abs/pii/S0277953614008399) ([non-paywall](https://scihub.wikicn.top/https://www.sciencedirect.com/science/article/abs/pii/S0277953614008399)) + * Literature review of wealth inequality in relation to health + * Finds that there is **strong evidence of wealth inequality having a causal relation to worse health** + * This relation is especially strong in countries with significant wealth inequality +* [Corak 13](https://www.aeaweb.org/articles?id=10.1257/jep.27.3.79) + * Discusses trends in wealth inequality and social mobility + * Finds a large body of evidence that suggests that **wealth inequality is worse for economic mobility**, and that **increased wealth inequality can diminish the impact of hard work** relative to the reward for such work + * _“**Inequality lowers mobility because it shapes opportunity.** It heightens the income consequences of innate differences between individuals; it also changes opportunities, incentives, and institutions that form, develop, and transmit characteristics and skills valued in the labor market; and it shifts the balance of power so that some groups are in a position to structure policies or otherwise support their children’s achievement independent of talent.”_ + +* [Inequality.org](https://inequality.org/facts/income-inequality/) + + + + +