The abject ignorance of reality.
Inequality in the UK is increasing for many reasons.
Inequality – measured by the Gini, the usual measure – is lower now than 2006/7.
The abject ignorance of reality.
Inequality in the UK is increasing for many reasons.
Inequality – measured by the Gini, the usual measure – is lower now than 2006/7.
He perhaps thinks that for 2006/07 he can blame Fatcha.
Actually, given the state of things he’s probably correct right now for the short term. An indicator is Paul Krugman saying that inflation doesn’t affect the poor more than the rich.
I’ve been looking at Picketty’s latest utterances on inequality. He uses the ratio between the top 10% and bottom 50% as a measure of inequality. The insanity of using this as a measure to base government policies on can be seen by the fact that it classes the US as vastly less equal than Afghanistan. Rational people would much rather live more unequal US than less unequal Afghanistan because by any sane measure (actual wealth, education, child mortality, …) the US is a far better place to live.
Arthur
I’d disagree.
The correct conclusion from the babblings of Picketty et al is that ‘inequality’ is much more of an observation than a useful metric.
The difference between ‘observation’ and ‘useful metric’ is that the latter is useful in some manner.
You observation lends credence to this view – it says that ‘inequality’ is useless as a measure of ‘quality of life’
I strongly suspect that he searched high and low for some measure which was higher in societies of which he disapproved than those of which he approved, and stumbled upon ‘inequality’. Had he been an honest man, he’d have written completely different stuff – like, despite the golden glow of the prettier aspects of socilaism, it never has worked and never will. But that would have required honesty as well as spreadsheets, so of course it was off the table.
“Inequality in the UK is increasing”
Since when? Yesterday? One year ago? Ten years ago? One hundred years ago?
Hah! I notice on Wiki the data stops at 2000. Not /starts/ at 2000, but stops at 2000. So there is no data for the last 21 years to rebut any assertion that inequality has risen – which is did fairly consistantly in the UK from 1977 to 2000.
What Capt Potato means is that whereas previously a lot of people were better of than him, now even more people are better off than him.
Jgh, try this site. It goes up to 2020
https://www.statista.com/statistics/872472/gini-index-of-the-united-kingdom/
https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/bulletins/householdincomeinequalityfinancial/financialyearending2020
I suspect that inequality is a good indication that you have a prosperous country. Countries where just about everyone lives in abject poverty tend to have very low levels of inequality.
Inequality will arise in countries where people start in debt and then earn good money over their lifetimes. My younger daughter has debt now, but she’s likely to retire with half a million quid or more in assets.
Like I will.
People like Spud, who blew the same opportunities are merely envious.
Well, one could argue that the majority of the populace are continually vilified because of their skin colour. One could argue that girls of the white majority are raped by brown Moslems and reproved for complaining about this privilege. One could argue that the white majority are continually vilified for the actions of their ancestors; whereas the at least equally evil actions of the non-whites are ignored, if they’re not actually applauded. One could argue that the white majority are continually pushed to kneel in respect to the non-white minority.
So, plenty of inequality if you look for it. But I’m sure that’s not what he’s looking for.
Looking at that ONS data I’d say inequality has yes increased up to 1990, but has been flat ever since. Any ups and downs are just statistical noise, that line is essentially flat. WHat is it about the end of the Cold War that stopped inequality changing? 😉
jgh. I’m still waiting for my cut of the ‘Peace Dividend’…..or perhaps i’ve had it and didn’t notice.