First was a fabulous talk by Oriana Bandiera on inequality, the misallocation of talent, and economic development at the LSE. Bandiera examines how in different settings highly educated people can be more likely to be in lower paying jobs, and the effects that economic class and gender have in ossifying these inequalities. She also presents a compelling experiment that can catapult people out of this trap. Highly recommend https://www.youtube.com/watch?v=T13d1yaMfng (2/11) #economics #inequality #bias
🔎 Prof. Lindsay Flynn from the University of Luxembourg seeks to understand the forces shaping patterns of #inequality within and between generations in affluent democracies ➕ how housing policies can be designed to address these inequalities⚖️.
🎙️ Listen to Prof. Flynn talk about her #research in the latest SciLux episode ➡️https://scilux.buzzsprout.com/1412332/14021625-season-4-episode-4-housing-policy
From the Equality Trust't latest report on #inequality in the UK.
When the top 20% of wealth holders have over two thirds of all wealth & assets, while the high-profile issue may be the top 1%, what we also have to recognise is that (most likely) #housing 'wealth' has solidified into the middle class in an alarming reflection of overall inequality (as outside the top 1% the chief asset most individuals own is their #house & perhaps also their #pension pot).
Fair guess, but the data says otherwise. According to the US Federal Reserve, 56% of families with student debt owned their home in 2019 SCF survey data, and "those with more student debt were more likely to own their homes."
‘We will coup whoever we want!’: the unbearable hubris of Musk and the billionaire tech bros
Challenging each other to cage fights, building apocalypse bunkers – the behaviour of today’s mega-moguls is becoming increasingly outlandish and imperial
Inequalities of income, wealth and power cost UK £106.2bn a year compared with average developed #OECD country
There are a couple of things wrong with #Hollywood, from #inequality of pay and treatment to the lack of #diversity, #oppression, and #abuse of power that included harsh treatment of child actors, but now, more than ever, the ugly side of Hollywood revealed itself with its #censorship and #blacklisting of #actors who speak about #Palestine.
https://youtube.com/watch?v=ADDsETVSntQ&feature=shared I was curious for Aron Piper’s acting (great indeed) but I loved this beautiful film Sayen on the abuse by #kobalt miners of indigenous communities and #nature among the Mapuche Indians in South Chili, for so-called #green but in fact only #profit seeking ambitions. #inequality #people #planet #mining #climate
#Inequality researchers: Describing unequal slopes. Here, the slope for marriage on earnings is .12 for White women and .21 Black women. How would you describe this: Black women have a higher earnings return on marriage, or a higher penalty for non-marriage, or more marriage inequality? Does it matter that 35% of Black women and 62% of White women are married?
I saw the trailer for the squid games challenge series and it made me very uncomfortable. I think this is why. https://inews.co.uk/culture/television/squid-game-challenge-review-horrific-2767885 #SquidGames #capitalism #inequality
Interesting series of articles
‘The great carbon divide. The Guardian investigates who is most responsible for the emissions that are driving the escalating climate crisis, and what to do about carbon inequality’
Rage Against the Machine - Live at the Grand Olympic (2000) (Full Concert).
This is one of the best bands ever who speaks for human rights and the everlasting fight against #injustice and #inequality.
#music #rageagainstthemachine #humanrights #justice #equality #freedom #solidarity
«Em 2019 os 1% super-ricos foram responsáveis por tantas emissões de carbono como os 66% mais pobres (5 biliões de pessoas); Em 2022, 125 bilionários emitiram, em média, 3 mil de toneladas de CO2 por ano, um milhão de vezes acima do que 90% da humanidade.» Relatório OXFAM nov2023
Fun fact: Among the world's billionaires, wealth concentration moves in lock step with the S&P 500.
The question is why?
[2023-11-24 09:18 UTC]
New research shows 'shows socioeconomic deprivation, comorbidity & learning disabilities are associated with an increased risk of developing non-Covid related sepsis & 30-day mortality in England';
yet more evidence that #health outcomes are related to #inequality - so any Govt. that fails to tackle (lessen) economic inequality, is by extension condemning many to worse health & premature death... which is then compounded by the ongoing #NHScrisis!
In other words, he suggests that between the end of the war of the Austrian succession in 1748 and the storming of the Bastille in 1789, the French population underwent a series of convulsions, some as molten as others were icy, which resulted in a subtle but powerful molecular shift. After 500 years of rigidity, “it made anything seem possible”.
#history #bookreview #France #FrenchRevolution #Europe #inequality #Monarchy #revolution
If you were creating a semester-long economic geography seminar on austerity and wanted to spend a week framing inequality as a concept, an outcome, and for some people/groups, an actual goal/necessity/social good* ... what would you want people to read?
I have Stiglitz ... in general I appreciate his framing, but he really pulls his punches, policy side, and I'd love something that dreams more boldly.
*I died a bit, typing this
How Inheritance #Data Secretly Explains US #Inequality (original story from WaPo) https://disqusrefugees.squarespace.com/blog/how-inheritance-data-secretly-explains-us-inequality
(3/3) If no action is taken, the rich will continue to burn thru the remaining #carbon budget to keep us below 1.5°C. Only a radical reduction in #inequality, transformative #climate action and shifting our economic goals as a society can save our planet: https://policy-practice.oxfam.org/resources/climate-equality-a-planet-for-the-99-621551/
Two crises: #climatechange & runaway #inequality. The richest people, corporations & countries destroy the world with their huge carbon #emissions. But people living in #poverty & countries in the Global South are affected most: https://policy-practice.oxfam.org/resources/climate-equality-a-planet-for-the-99-621551/ #carbon (1/3)
New study finds wide gap in SAT/ACT test scores between wealthy, lower-income kids
The very smart, pragmatic economist Thomas Piketty says "class #inequality must be at centre of #climate response and calls for progressive #carbon taxes." https://www.theguardian.com/environment/2023/nov/22/ban-private-jets-to-address-climate-crisis-says-thomas-piketty
Richest 1% account for more carbon emissions than poorest 66%, report says, while poorest pay the price.
🤨 Unethical tax-evading labour-abusing online oligarchs selling
🧐 proprietary non-repairable disposable gadgets
🤯 manufactured in hostile dictatorship hellbent on eradicating democracy on earth.
🙄 People: TAKE MY MONEY! 💵️💰️
Yeah, apparently we simply can't *choose* to have *all* good things in life, but...
.. maybe give those above-mentioneds as little of your money as possible? 🤔
‘Twelve of the world’s wealthiest billionaires produce more greenhouse gas emissions from their yachts, private jets, mansions and financial investments than the annual energy emissions of 2m homes… tycoons include’ Jeff Bezos, Bill Gates, Larry Page, Michael Dell, Elon Musk & Carlos Slim
#environment #climatecrisis #globalwarming #law #politics #inequality
‘Among the most polluting jets covered by the list was a Boeing 767 wide-body aircraft owned by the Rolling Stones. It emitted an estimated 5,046 tonnes of CO2, the equivalent of someone taking 1,763 return flights from London to New York City in economy class.’
‘Private jets belonging to 200 celebrities, CEOs, oligarchs and billionaires have spent a combined total of 11 years in the air since the start of 2022. The carbon footprint of all those flights – a jaw-dropping 44,739 journeys – would be the equivalent of the total emissions of almost 40,000 Britons.’ https://www.theguardian.com/environment/2023/nov/21/the-jet-set-200-celebrities-aircraft-have-flown-for-combined-total-of-11-years-since-2022 #environment #climatecrisis #globalwarming #law #politics #inequality
#Inequality #ClassWar #ClimateChange #CarbonEmissions: "The richest 1% of humanity is responsible for more carbon emissions than the poorest 66%, with dire consequences for vulnerable communities and global efforts to tackle the climate emergency, a report says.
The most comprehensive study of global climate inequality ever undertaken shows that this elite group, made up of 77 million people including billionaires, millionaires and those paid more than US$140,000 (£112,500) a year, accounted for 16% of all CO2 emissions in 2019 – enough to cause more than a million excess deaths due to heat, according to the report.
For the past six months, the Guardian has worked with Oxfam, the Stockholm Environment Institute and other experts on an exclusive basis to produce a special investigation, The Great Carbon Divide. It explores the causes and consequences of carbon inequality and the disproportionate impact of super-rich individuals, who have been termed “the polluter elite”. Climate justice will be high on the agenda of this month’s UN Cop28 climate summit in the United Arab Emirates."
The Wealth Gap Between Rich and Poor Is Exploding.#USA...#inequality https://www.palmbeachgroup.com/palm-beach-daily/the-wealth-gap-between-rich-and-poor-is-exploding-2/
Yes, that's exactly right.
To add to the complexities, rooftop solar subsidies (similar to EV subsidies) were also shown to deepen #inequality. From the paper:
"Rooftop solar policy in the U.S. is significantly regressive, first because higher-income households receive a disproportionate share of policy benefits, and second because the costs of net-metering compensation paid to high-income adopters are often passed on to relatively lower-income non-adopters."
Billionaires are a Menace to Society...
"Let me put it this way: if you made $10,000 a week – a princely sum by the standards of most people – you would have to work every week from the year of Jesus’s birth until this week to earn over a billion dollars. To earn as much as Elon Musk’s net worth at that rate – currently $180bn, according to Forbes – you’d have to work every week for more than a third of a million years – that is, since before Homo sapiens first emerged in Africa....
... billionaires are a menace to the rest of us: their sheer political size warps our public life. Disproportionately older, white and male, they function as unelected powers, a sort of freelance global aristocracy who are too often trying to reign over the rest of us. Some critics think that the supergiant tech corporations that have spawned so many modern billionaires operate in ways that resemble feudalism more than capitalism, and, certainly, plenty of billionaires operate like the lords of the Earth while campaigning to protect the economic inequality that made them so rich and makes so many others so poor. They use their power in arbitrary, reckless and often environmentally destructive ways."
- Rebecca Solnit
“Conservatism consists of exactly one proposition, to wit:
There must be in-groups whom the law protects but does not bind,
alongside out-groups whom the law binds but does not protect."
~Frank Wilhoit, composer
"Richest 1% account for more carbon emissions than poorest 66%....“The super-rich are plundering and polluting the planet to the point of destruction and it is those who can least afford it who are paying the highest price,” https://www.theguardian.com/environment/2023/nov/20/richest-1-account-for-more-carbon-emissions-than-poorest-66-report-says
The three main functions of the hukou system are to control internal migration, manage the distribution of social resources and maintain stability.
The system limits where a person is allowed to live, especially if one is born into a rural hukou. Attempting to change to a more attractive residence or to an urban hukou can be extremely difficult. Thus, the system institutionalizes inequality.
"A less discussed but faster-growing problem is #inequality within countries. #Billionaires are still overwhelmingly white, male and based in the US and Europe, but members of this influential class of super-rich can increasingly be found in other parts of the world. Millionaires are even more dispersed."
#Oxfam report: Richest 1% emit more carbon than poorest 66%
"The most comprehensive study of global #climate #inequality ever undertaken shows that this elite group, made up of 77 million people including #billionaires, millionaires and those paid more than US$140,000 (£112,500) a year, accounted for 16% of all CO2 #emissions in 2019 – enough to cause more than a million excess deaths due to heat, according to the report.."
From 20 Nov: As You Sow’s 10th report names 15 overpaid CEOs in healthcare - https://www.beckershospitalreview.com/compensation-issues/15-overpaid-ceos-in-healthcare.html #healthcare #salary-compensation #inequality
From 20 Nov: Medicaid might be a taxpayer-funded health program for the poor, but that doesn’t mean others aren’t getting rich off of it — including employees of a company Ohio is suing on antitrust grounds. - https://ohiocapitaljournal.com/2023/11/17/pharmacy-middleman-grants-huge-bonuses-for-winning-business-meant-to-help-the-poor/ #medicaid #salary-compensation #inequality #healthcare #healthinsurance
The richest 1% (77 million people) are responsible for 16% of global emissions, and so is the bottom 66% of the global population (5.11 billion people).
That means the middle 33% of the population by income (2.9 billion people) is responsible for 68% of emissions.
The most comprehensive study of global climate inequality ever undertaken shows that an elite group, made up of 77 million people including billionaires, millionaires and those paid more than US$140,000 (£112,500) a year, accounted for 16% of all CO2 emissions in 2019 – enough to cause more than a million excess deaths due to heat, according to the report from Oxfam.
#ClimateEmergency #Inequality #TaxTheRich
"In 2019, the richest 1% were responsible for 16% of global carbon emissions, the same as the emissions of the poorest 66% of humanity (5 billion people)."
The great carbon divide: Richest 1% account for more carbon emissions than poorest 66%, report says
‘Polluter elite’ are plundering the planet to point of destruction, says Oxfam after comprehensive study of climate inequality
#climatechange #carbonemissions #rich #disparity #inequality #Cop28
We know there are disparates & that #housing has become more expensive for everyone, but what this show is how much worse an effect relatively these increases have had upon the poorest members of our society.
This problem is exemplary of the disregard the governing classes have for the poor in the UK, and show the abject failure of housing policy to help anyone but the rich!
Of course.... and now #JeremyHunt is looking to cut #InheritanceTax - a tax paid by less than 5% of estates each year... so a tax reduction only the richest will benefit from, that will have no impact on effective demand (his reasoning for tax cuts) and will enhance inheritance as the engine that maintains #inequality!
I'm not surprised that he's going to do it, he's a #Tory after all!
First, there were food deserts, now......
How Pharmacy Deserts are Putting the Health of Black and Latino Americans at Risk
Today on my podcast, I read my story "Moral Hazard," a madcap tale of #fintech, #inequality, #FinanceBros, #Wyoming, #homelessness and #bailouts , from "Communications Breakdown," a new book from MIT Press, edited by Jonathan Strahan, with stories from Elizabeth Bear, SB Divya, Chris Gilliard, Lavanya Lakshminarayan, Ken Macleod, Tim Maughan, Ian McDonald, Anil Menon, Premee Mohamed & Shiv Ramdas.
In the article excerpted below, David Zipper (@davidzipper) warns us that while electric cars are crucial, they're not enough to solve climate change. We can’t let them crowd out car-free transit options.
Over the last decade, Norway has emerged as the world’s undisputed leader in electric vehicle adoption. With generous government incentives available, 87% of the country’s new car sales are now fully electric, a share that dwarfs that of the European Union (13%) and the United States (7%).
The Norwegian EV bonanza has indeed reduced emissions — but at the expense of compromising vital societal goals. Eye-popping EV subsidies have flowed largely to the affluent, contributing to the gap between rich and poor in a country proud of its egalitarian social policies.
Worse, the EV boom has hobbled Norwegian cities’ efforts to untether themselves from the automobile and enable residents to instead travel by transit or bicycle, decisions that do more to reduce emissions, enhance road safety, and enliven urban life than swapping a gas-powered car for an electric one.
And it could happen in other countries too, including the United States, where transportation is the single largest source of greenhouse gas emissions. The federal government now offers tantalizing rebates to Americans in the market for an electric car, but nothing at all for more climate-friendly vehicles like e-bikes or golf carts, nor a financial lifeline for beleaguered public subway and bus systems.
EVs can be part of the solution we need, but only a small part. And when a hope-happy focus on EVs is used by capitalists and neoliberal politicians solely to prolong Business As Usual, it may do more harm than good.
@GottaLaff @_L1vY_ We were with our son, daughter-in-law and granddaughter yesterday and had a wonderful day. But... I had the nagging feeling that we have left them a big bag of sh*t for them to deal with. #democracy seems to be failing, the #climateCrisis is advancing, #inequality is rampant and so many other issues.
Really interesting article, thank you for sharing! World is complex and every solution has negative consequences.
#EV subsidies in #Norway reduced tailpipe emissions, but they also entrenched car dependence, undermining cities' ability to build walkable neighborhoods and improving public transport. They also increased #inequality as the subsidies do not benefit those that cannot afford a car at all.
US Congress repeated the mistake in their #InflationReductionAct. 😞
Zucman says "just" a 2% wealth tax plus returning corporate tax to 20% & closing the loopholes would get most of the money needed for addressing climate change.
Some of this is like #AIRegulation. He wants an IPCC like UN body looking at the economic science of this, and he also has my lines on both being clear about what is not a fact of nature but a policy choice, and b, global agreements cannot be subject to veto players... #AIAct #AIEthics #AISafety #AISafetySummit #DMA #inequality
Zucman: ALL countries have become tax havens of some sort, they all arbitrage and try to get some employment with specific "breaks", but globally it is not just zero sum, but NEGATIVE sum – we only fuel #inequality.
Some states ban this practice... But in #Texas, the poor and vulnerable are often sent to medical schools after they die. The practice raises serious questions about medical ethics:
From the #housingcrisis to #healthcare, from #education to #careers & #inequality we seem always to underplay (or deny) the role of luck & insist on people's positive (or negative) agency in the outcomes (situations) they confront..
We really need to recognise that no-one is 'self-made', no-one 'deserves' to be poor or ill.
Of course, our actions may compound & enhance the role of luck but luck (good or bad) is always there.
The state's role should be to help us cope with luck's consequences
When stocks go up, who benefits?
Spoilers: not everyone.
Double spoilers: the stock market is a tool for taking from the many and giving to the few.
“It just blossomed into way more than I ever could have expected.”
What started small has become a national movement: free food at sites throughout U.S. cities., including several in #Texas. But these 'Love Fridges' could also cut down on waste and emissions. From our friends at @grist: https://www.texasobserver.org/community-fridge-free-food-environment/
Approximately £400 Billion was pumped into the UK economy during the recent COVID crisis, roughly £6000 per adult in the UK
Almost all of it ended up in the hands of the richest 10% of the population because that's how inequality works. So the poorest 90% handed tthe richest 10% £6000 each...yet not a single UK mainstream party proposes taxing the rich to redistribute to the poor. Not one. We have no future till we act in our masses to address inequality
For instance, 1 in 6 said they were forced to retire (compared to only 1 in 9 of straight and cisgender respondents).
My partner Dan Jaffee isn't on social media, but he's put out a new book, and with it, this piece in The Conversation.
Tens of thousands of #Icelandic #women, including the #primeminister, held a #strike from #paid and #unpaid #jobs on Tuesday (23 October) in a #protest against #gender #inequality, according to #labour #unions.
Yes, please. Wealth tax now.
I don’t know why we’d stop at 2%, though. Make it a marginal tax rate just like on income tax, and tax anything over €1 billion at 90%. What do we say, 10% on wealth over €100 mil, 20% over €200 mil, and so on upwards?
That would go a long ways to combating the current insane wealth #inequality.
https://www.theguardian.com/business/2023/oct/22/eu-funded-report-calls-for-wealth-of-super-rich-to-be-taxed-not-income #tax #eu
If you read only one thing today, read this from the wonderful humans at @TechCrunch
Its worth remembering that not the #rich are not all the same.
Katharina Hecht (LSE) notes that in' interviews with people with income in the top 1 & top 0.1% in the UK, I found that approximately a third of participants suggested that #inequality should be lower & many were supportive of the idea of higher #taxation for people like themselves in order to provide opportunities for others. In particular, the #NHS & the #education system were highlighted as in need of public funding'!
From the archives: “In reality, it’s a subtraction from a student in the public school. Then, you’re never going to have an equitable system where every kid can access quality #education.”
By looking at #Arizona's troubled history with #vouchers, we can learn more about the harms they might cause closer to home. From @josephinelee ... https://www.texasobserver.org/voucher-program-arizona-privitization-public-schools-disabilities/
Does science need heroes or does it need to reform? I elaborate on this in a blog post, based on a talk I gave at the recent Rijksmuseum Boerhaave symposium on Prize Cultures. Idolizing heroes can worsen #bias, #inequality, and #competition in science. Yet, it does require good #leadership to ignite structural change. https://www.leidenmadtrics.nl/articles/does-science-need-heroes
Interview with equality campaigner Danny Dorling.
"The picture he draws is delineated carefully through appalling statistics: over the first five years of austerity, the poorest fifth of people in England lost, on average, 11% of their income, while the richest fifth lost nothing..“The country [is] moving towards a minarchy, or night-watchman state, with minimal power over the rich and minimal support for the poorer of its citizens”
#Poverty #Inequality #UKPolitics
#TomSuozzi is a tax-cuts-for-rich-people guy, but when it came down to it he eventually voted for some needed legislation without #SALT. At least he's not #GeorgeSantos , but it would be nice if #NewYork would vote to #tax the wealthy and aid the poor, instead of the other way around
'As he picks the system apart, Deaton zeros in on the evident absurdities of claims about the purity of the market. “If you need an ambulance, you are not in the best position to find the best service or to bargain over prices; instead, you are helpless and the perfect victim for a predator,” he writes.' #inequality #voodooeconomics #classwar #nobelprize2023 https://www.theguardian.com/inequality/2023/oct/07/angus-deaton-interview-book-economics-in-america
mRNA derived vaccines are indeed great (I am a beneficiary), and the researchers who did the foundational work on mRNA richly deserve the honor.
A lot of people have already weighed in on the mistreatment/shutting of one of the winners, Katalin Kariko and the brokenness of academic research, bias against women, incentive structures, awards, grants etc.,
However, there is myopia/distortion/rank hypocrisy on other fronts that deserves ridicule as well.
This sentence in the citation, to put it mildly, is preposterous:
" ... contributed to the unprecedented rate of vaccine development during one of the greatest threats to human health in modern times."
In a world of roughly 8 billion people, roughly 13.5 billion doses of Covid19 vaccines have been administered so far. About 3 billion of those are mRNA vaccines (you can guess who got them). So, what do they mean when they say "human" health? Which humans are they talking about? Who do they think vaccinated the world?
This has to be either the greatest sleight of hand or complete ignorance/denial of how and what kind of Covid-19 vaccines were rolled out to save the world. It's as if the rest of the world doesn't exist or didn't as well develop vaccines quickly and save themselves.
What we witnessed the last three years was not "unprecedented ... development" using mRNA techniques to counter "one of the greatest threats to human health" as the citation points out, instead it was how the entire rich world failed so completely and spectacularly to see itself as part of a common humanity even after it had the means to do so.