CAPITALISM'S ACHILLES HEEL Dirty Money and How to

412 NOTES
plan. An even more refined analysis would use deciles or centiles. Some
data are not available for every country and every year, such as the income
share data. We use the highly regarded Deininger and Squire
(1996) regional data where needed, an acceptable substitution because
neighboring countries tend to share key characteristics. Finally, it is
well known that income surveys do not capture the full extent of
wealth held by the world’s richest people. If anything, this point underscores
that the true global disparity is even greater than what we have
calculated.
6. Economist, “Food for Thought,” May 29, 2004, 72.
7. International Monetary Fund, “A Review of PPP-Adjusted GDP Estimation
and its Potential Use for the Fund’s Operational Purposes,” IMF
working paper no. WP/95/18 prepared by Nancy Wagner, February
1995, iii.
8. The poverty head counts are, respectively, by: (1) Xavier Sala-i-Martin,
“The Disturbing ‘Rise’ of Global Income Inequality,” Columbia University
Department of Economics discussion paper #0102-44 (April
2002): 19; (2) Surjit S. Bhalla, Imagine There’s No Country: Poverty, Inequality,
and Growth in the Era of Globalization (Washington, D.C.: Institute
for International Economics, 2002), 8; (3) World Development
Report 2000/2001 (New York: Oxford University Press for the World
Bank, 2001), 3; (4) Sanjay Reddy and Thomas Pogge, “How Not to
Count the Poor, Version 4.5,” (New York: Columbia University, March
26, 2003), 30, who estimate poverty head counts at higher than 30 percent
of world population.
9. Department for Work & Pensions (UK), Households Below Average Income
Statistical Report, March 30, 2004, www.dwp.gov.uk/asd/hbai/
hbai2003/contents.asp. The median income is based on the benchmark
of a couple with no children, before housing costs.
10. Human Development Report 2004 (New York: United Nations Development
Programme, 2004), 141–142.
11. Ambuj D. Sagam and Adil Najam, “Shaping Human Development:
Which Way Next?” Third World Quarterly 20, no. 4 (August 1, 1999),
743.
12. Aristotle, The Nichomachean Ethics, Book 1, Chapter VI.
13. Amartya Sen, Development as Freedom (New York: Anchor Books,
1999), 75.