Stories tagged “Inequality.”
27 stories
Analysis reveals that only individuals with nearly £100,000 in discretionary income annually can offset the £1,200 cost of GLP-1 weight-loss drugs through reduced food spending, effectively making the medication a "regressive tax on being thin" for most users.
Artist Justin Blinder created an art-project gadget called Ground Truth that slows down Citi Bikes in rent-burdened neighborhoods to raise awareness about the housing affordability crisis in New York City.
Private pensions are a privilege for the lucky few and a curse for everyone else. They have become pernicious financial vehicles that allow an older generation to hoodwink younger generations, who also seek security in their latter years.
The article attributes the migratory crisis in Ceuta to Morocco's deteriorating economic conditions, high unemployment, and inequality, particularly affecting its youth.
Beyond the language of decline: Hope for democratic renewal
A thoughtful essay by a Japanese author argues that democracy and capitalism are undergoing profound transformations, risking the concentration of power and wealth. Confidence in democratic institutions is weakening, and economic inequality continues to widen.
Leaked exams and dashed dreams: Why India’s ‘Cockroach’ youth turned on Modi
Young Indians are protesting against Prime Minister Narendra Modi, citing leaked exams and dashed dreams. The protests are spearheaded by the Cockroach Janta Party, a satirical movement.
Andy Burnham's plan to devolve power by sharing income tax with regional mayors faces significant challenges, including the UK's highly centralized fiscal system and the weakened capacity of many local councils.
Gary Stevenson, a former City trader turned wealth tax campaigner, is quitting his popular YouTube channel, Gary's Economics, citing health concerns. His weekly videos took off during the Covid pandemic and grew to 1.64 million subscribers.
FTSE 100 CEO pay hit a record median £5.06m, widening the gap with average UK workers to 130-to-1.
Still in our hands': UN chief issues urgent Mandela Day call to eradicate poverty
UN Secretary-General Antonio Guterres issued a call to action on Mandela Day, emphasizing that combatting systemic poverty and inequality is 'still in our hands'. He highlighted that ending poverty is not merely charity, but an act of fundamental justice and human rights.
Thinktanks in the UK are financially vulnerable due to their dependence on profit-driven businesses. This is a weakness in their funding model, and the UK has a problem with opaque political funding.
Nigeria to track poverty, incomes as government seeks proof reforms are working
Nigeria plans to publish indicators tracking poverty, incomes and inequality as President Bola Tinubu's government seeks to show that economic reforms are improving living standards in Africa's largest economy.
Access to air conditioning is becoming a matter of life and death as extreme heat becomes a deadly form of weather. Low-income households struggle to afford cooling, and in many developing countries, the electric grid cannot support air conditioners even if they were affo…
China has prioritized income growth and wage reform to protect its workforce from AI-driven inequality. A new blueprint targets middle-income expansion, vocational training, and collective wage bargaining.
The Philippines was recently upgraded to an upper-middle-income country by the World Bank, but many Filipinos feel this classification makes little difference to their struggles with rising cost of living, debt, and stagnant wages.
A new UN report warns that the rapid, uneven spread of artificial intelligence could exacerbate global inequality, proposing a shared framework for responsible AI development.
Economist Mariana Mazzucato argues that governments must have a vision and work towards the common good. She criticizes the current economic models and suggests a new approach that prioritizes social problems and the environment.
Billionaires' wealth is soaring in the US, while workers struggle to make ends meet due to inflation and low wages. The wealthiest 0.00001% hold wealth equal to 12% of the US's gross domestic output.
Wolfgang Porsche has put his historic Salzburg villa up for sale after a public uproar over his plans to build a private tunnel. The villa, once home to Stefan Zweig, is on the market for €12.7m.
Policymakers' approach to automation won't work for AI, as the scale and shape of AI displacement are different. The manufacturing-era toolkit is insufficient to address the challenges posed by AI.
US income inequality has seen a relentless rise, with government efforts to curb it proving largely ineffective across administrations. Wealthy individuals increasingly shield their fortunes from taxation, leading to a concentration of wealth.
The number of billionaires is increasing, with Elon Musk becoming the world's first trillionaire. This trend reflects a good economic environment.
Readers respond to an article about a £200m palace in London that has lain empty for years, highlighting the UK's housing problem.
The Guardian argues Labour should back a 2% tax on fortunes above £100m to address soaring inequality and protect middle earners.
Readers argue poverty, inequality and housing costs weaken demand, so the economy cannot recover by business incentives alone.
Oxfam says Australia’s billionaires gained $25.67bn in a year while poverty and food insecurity remain widespread.
UK universities warn of cuts for impoverished students if dire funding issues continue
University leaders warn that worsening finances could force cuts to hardship grants and outreach for disadvantaged students, as redundancies and mergers loom.