1FW2e8F

Recommendations

Info

SECTION 1 2 3 EXTREME INEQUALITY In countries with higher levels of inequality it is easier for parents to pass on their advantages to their children; advantages that less wealthy parents cannot afford. 219 The clearest example of this is expenditure on education. Wealthier parents often pay for their children to attend costly private schools that then facilitate their entry into elite universities, which in turn help them secure higher paid jobs. This is reinforced by other advantages, such as the resources and social networks that richer parents share with their children, which further facilitate employment and education opportunities. In this way, the richest capture opportunities, which then become closed off from those who do not have the means to pay. 220 Figure 7 demonstrates the negative relationship between rising inequality and diminishing social mobility across 21 countries. In Denmark, a country with a low Gini coefficient, only 15 percent of a young adult’s income is determined by their parent’s income. In Peru, which has one of the highest Gini coefficients in the world, this rises to two-thirds. In the USA, nearly half of all children born to low-income parents will become low-income adults. 222 “ If Americans want to live the American dream, they should go to Denmark. RICHARD WILKINSON CO-AUTHOR OF THE SPIRIT LEVEL 221 “ FIGURE 7: The Great Gatsby Curve: The extent to which parents’ earnings determine the income of their children 223 0.8 Intergenerational earnings elasticity 0.7 0.6 0.5 0.4 0.3 0.2 0.1 0 Japan Pakistan Switzerland France Germany Sweden Norway Finland Italy Denmark China Spain New Zealand Australia Canada Chile Argentina USA Singapore United Kingdom 20 25 30 35 40 45 50 55 60 65 Gini coefficient Peru Brazil In Pakistan, social mobility is a distant dream. A boy born to a father 224 from the poorest 20 percent of the population has a 6.5 percent chance of moving up to the wealthiest 20 percent of the population. 225 In many countries, social mobility for women and marginalized ethnic groups is a virtual impossibility due to entrenched discriminatory practices, such as the caste system in India, which are compounded by economic inequality. 226 Policies designed to reduce inequality can provide opportunities to poor children that were denied to their parents. Education, for example, is widely considered to be the main engine of social mobility, 227 as those with more 48
SECTION 1 2 3 EXTREME INEQUALITY education often secure higher paid jobs. Countries that spend more on highquality public education give poorer students the means to compete more fairly in the job market, while simultaneously reducing the incentive for richer parents to privately educate their children. EXTREME INEQUALITY HURTS US ALL AND THREATENS SOCIETY A growing body of evidence indicates that inequality negatively affects social well-being and social cohesion. In their book, The Spirit Level: Why More Equal Societies Almost Always Do Better, Kate Pickett and Richard Wilkinson demonstrate that countries with higher levels of income inequality experience higher rates of a range of health and social problems compared to more equal countries. 228 Inequality is linked to shorter, unhealthier and unhappier lives, and higher rates of obesity, teenage pregnancy, crime (particularly violent crime), mental illness, imprisonment and addiction. 229 “ Inequality is the root of social evil. POPE FRANCIS “ Inequality is so toxic, Wilkinson and Pickett explain, because of ‘social status differentiation’: the higher the levels of inequality, the greater the power and importance of social hierarchy, class and status, and the greater people’s urge to compare themselves to the rest of society. Perceiving large disparities between themselves and others, people experience feelings of subordination and inferiority. Such emotions spark anxiety, distrust and social segregation, which set in motion a number of social ills. Although the impacts tend to be felt most severely lower down the social ladder, the better-off suffer too. 230 Crucially, inequality, not the overall wealth of a country, appears to be the most influential factor. Highly unequal rich countries are just as prone to these ills as highly unequal poor countries. 231 Such ills are from two to 10 times as common in unequal countries than in more egalitarian ones. 232 As Figure 8 demonstrates, the USA pays a high price for having such high income inequality. FIGURE 8: Health and social problems are worse in more unequal countries 233 Index of health and social problems Worse United Kingdom Portugal Greece Ireland New Zealand France Austria Australia Canada Denmark Germany Italy Spain Finland Belgium Netherlands Switzerland Norway Sweden USA Better Japan Low Income inequality (Gini) High 49
Page 1 and 2: Even it up TIME TO END EXTREME INEQ
Page 3 and 4: JEFFREY SACHS Director of the Earth
Page 5 and 6: ACKNOWLEDGEMENTS The paper was writ
Page 7 and 8: SECTION 1 2 3 FOREWORD FOREWORD The
Page 9 and 10: SECTION 1 2 3 FOREWORD Persistent i
Page 11 and 12: SECTION 1 2 3 EXECUTIVE SUMMARY Nth
Page 13 and 14: SECTION 1 2 3 EXECUTIVE SUMMARY Bil
Page 15 and 16: SECTION 1 2 3 EXECUTIVE SUMMARY The
Page 17 and 18: SECTION 1 2 3 EXECUTIVE SUMMARY pow
Page 23 and 24: SECTION 1 2 3 EXECUTIVE SUMMARY Des
Page 25 and 26: SECTION 1 2 3 EXECUTIVE SUMMARY and
Page 27 and 28: SECTION 1 2 3 EXECUTIVE SUMMARY gov
Page 29 and 30: SECTION 1 2 3 INTRODUCTION Nthabise
Page 31 and 32: A view across Santa Marta favela an
Page 33 and 34: SECTION 1 2 3 EXTREME INEQUALITY ME
Page 35 and 36: SECTION 1 2 3 EXTREME INEQUALITY FI
Page 37 and 38: SECTION 1 2 3 EXTREME INEQUALITY TA
Page 39 and 40: SECTION 1 2 3 EXTREME INEQUALITY 1.
Page 41 and 42: SECTION 1 2 3 EXTREME INEQUALITY FI
Page 43 and 44: SECTION 1 2 3 EXTREME INEQUALITY Th
Page 45 and 46: SECTION 1 2 3 EXTREME INEQUALITY EX
Page 47 and 48: SECTION 1 2 3 EXTREME INEQUALITY 20
Page 49 and 50: SECTION 1 2 3 EXTREME INEQUALITY in
Page 51: SECTION 1 2 3 EXTREME INEQUALITY Ca
Page 55 and 56: SECTION 1 2 3 EXTREME INEQUALITY (C
Page 57 and 58: SECTION 1 2 3 EXTREME INEQUALITY Si
Page 59 and 60: SECTION 1 2 3 EXTREME INEQUALITY Th
Page 61 and 62: SECTION 1 2 3 EXTREME INEQUALITY CA
Page 63 and 64: SECTION 1 2 3 EXTREME INEQUALITY Id
Page 65 and 66: SECTION 1 2 3 EXTREME INEQUALITY CA
Page 67 and 68: SECTION 1 2 3 EXTREME INEQUALITY On
Page 69 and 70: SECTION 1 2 3 EXTREME INEQUALITY MY
Page 71 and 72: SECTION 1 2 3 EXTREME INEQUALITY ma
Page 73 and 74: SECTION 1 2 3 WHAT CAN BE DONE THE
Page 75 and 76: SECTION 1 2 3 WHAT CAN BE DONE BURK
Page 77 and 78: SECTION 1 2 3 WHAT CAN BE DONE In S
Page 79 and 80: SECTION 1 2 3 WHAT CAN BE DONE wage
Page 81 and 82: SECTION 1 2 3 WHAT CAN BE DONE (CAS
Page 83 and 84: SECTION 1 2 3 WHAT CAN BE DONE Some
Page 85 and 86: SECTION 1 2 3 WHAT CAN BE DONE 2.3
Page 87 and 88: SECTION 1 2 3 WHAT CAN BE DONE Inte
Page 89 and 90: SECTION 1 2 3 WHAT CAN BE DONE appr
Page 91 and 92: SECTION 1 2 3 WHAT CAN BE DONE fisc
Page 93 and 94: SECTION 1 2 3 WHAT CAN BE DONE 2.4
Page 97 and 98: SECTION 1 2 3 WHAT CAN BE DONE CASE
Page 99 and 100: SECTION 1 2 3 WHAT CAN BE DONE Stro
Page 103 and 104:
SECTION 1 2 3 WHAT CAN BE DONE to 5
Page 105 and 106:
SECTION 1 2 3 WHAT CAN BE DONE 2.5
Page 107 and 108:
SECTION 1 2 3 WHAT CAN BE DONE hous
Page 109 and 110:
SECTION 1 2 3 WHAT CAN BE DONE THE
Page 111 and 112:
SECTION 1 2 3 WHAT CAN BE DONE CASE
Page 113 and 114:
SECTION 1 2 3 WHAT CAN BE DONE The
Page 115 and 116:
SECTION 1 2 3 WHAT CAN BE DONE (CAS
Page 117 and 118:
SECTION 1 2 3 TIME TO ACT Today’s
Page 119 and 120:
SECTION 1 2 3 TIME TO ACT • Imple
Page 121 and 122:
SECTION 1 2 3 TIME TO ACT • Commi
Page 123 and 124:
SECTION 1 2 3 TIME TO ACT • Ensur
Page 125 and 126:
SECTION 1 2 3 NOTES NOTES 1. Based
Page 127 and 128:
SECTION 1 2 3 NOTES 51. M. Carney (
Page 129 and 130:
SECTION 1 2 3 NOTES 106. S. Limwatt
Page 131 and 132:
SECTION 1 2 3 NOTES 168. The Transn
Page 133 and 134:
SECTION 1 2 3 NOTES 245. P. Engel,
Page 135 and 136:
SECTION 1 2 3 NOTES 324. Oxfam and
Page 137 and 138:
SECTION 1 2 3 NOTES 390. In C. Godf
Page 139 and 140:
SECTION 1 2 3 NOTES 449. P. Stevens
Page 142:
The widening gap between rich and p
show all

1FW2e8F

Create successful ePaper yourself

Delete template?

Save as template?