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.
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Tags: economy, money, recession, rich poor gap, wealth inequality
This entry was posted on Wednesday, July 11th, 2012 at 7:40 am and is filed under Religion & Politics. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.