Income inequality
Wednesday, July 11th, 2012 | Religion & Politics
John Rentoul recently published an article on The Independent’s website, pointing to a report by the Institute for Fiscal Studies showing that the recession had actually reduced income inequality.
Key findings in the report highlight that the turn of the decade marked the biggest drop in income inequality since 1962 based upon the Gini coefficient (one of the many ways you can measure income inequality). Contrary to popular belief, it is actually the wealth that have seen the biggest percentage slashed off their income, at least according to the report.
If it is the case, then while income fails are never a good thing, it is positive that we are moving towards a more equal society – of course there is no guarantee such a trend will remain when economic times are brighter.
John Rentoul recently published an article on The Independent’s website, pointing to a report by the Institute for Fiscal Studies showing that the recession had actually reduced income inequality.
Key findings in the report highlight that the turn of the decade marked the biggest drop in income inequality since 1962 based upon the Gini coefficient (one of the many ways you can measure income inequality). Contrary to popular belief, it is actually the wealth that have seen the biggest percentage slashed off their income, at least according to the report.
If it is the case, then while income fails are never a good thing, it is positive that we are moving towards a more equal society – of course there is no guarantee such a trend will remain when economic times are brighter.