Write an inequality that describes the graphic fairy

I have not.

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In sum, the relative metric i. Journalist Timothy Noah wrote in that: "Every one of these changes elevated the financial interests of business owners and stockholders above the well-being, financial or otherwise, or ordinary citizens.

It depicts a closed flow of income cycling between households, businesses, banks, government and trade, operating in a social and ecological vacuum. The data may tell us a little bit about non-monetary GDP, but it tells us nothing about poverty.

Write an inequality that describes the graphic fairy

But many — such as economist Paul Krugman — emphasize the effect of changes in taxation — such as the and Bush administration tax cuts which cut taxes far more for high-income households than those below — on increased income inequality. There are two metrics that economists use: relative and absolute. We need to face up to this fact. Neither of these approaches is adequate, however. If we accept the theory of diminishing marginal utility, what this means is that every dollar that goes to the already-rich instead of to the poor is egregious; it is more or less meaningless in their hands, whereas for the poor it would be life-changing. And what is happening is divergence. In fact, this impression is exactly the opposite of what is actually happening in the world. One might even say that there is a one-to-one relationship between money and power: one more dollar gives you one more unit of power. We see that while per capita income has indeed increased in the global South, the global North has captured the vast majority of new income generated by global growth since In reality the average gain has been at most a doubling of income since Wage theft can be conducted through various means such as: failure to pay overtime, minimum wage violations, employee misclassification, illegal deductions in pay, working off the clock, or not being paid at all. More importantly, though, Matthews gets his history exactly backwards. The whole point of my argument is that the data he uses to draw conclusions about global poverty trends from is in fact not valid for that purpose.

Ultimately, there is a difference in perspectives at stake here. When we look at inequality from the perspective of the poor - using the theory of increasing egregiousness - it becomes clear that the relative metric is inappropriate as a tool for assessing distribution.

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But from the perspective of power differentials it is even more wrongheaded. This is what the most inspiring book published so far this year has done. If we want to know whether the North-South divide still exists, we need a grouping that will actually serve that end.

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Neither of these approaches is adequate, however. More importantly, though, Matthews gets his history exactly backwards. We need to reframe the problem.

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The unpaid work of carers — principally women — is ignored, though no economy could function without them. In political terms, they can use it to lobby policymakers, fund political campaigns, buy media outlets, set up think tanks, or even outright bribe government officials. The first assumption is politically naive. This argument only makes sense if you start from the assumption that poverty is a natural condition — as though being born into poverty is a kind of default. In reality the average gain has been at most a doubling of income since Under Republican presidents, in contrast, gains were much less but what growth there was concentrated towards the top, tapering off as you went down the income scale. Indeed, Malthus was a conservative thinker who believed, basically, that enclosure was good because it put poor people at the mercy of hunger and therefore made them work harder and become more productive so as to increase the GDP - the same argument, incidentally, that the British made when they dispossessed indigenous Americans, and later Asians and Africans.

But our collective understanding of this matter will only be served by intellectually honest and sincere engagement with the arguments at hand.

If we are to take the power dimension of inequality seriously, then we have to accept that the elephant graph beloved of the World Bank, and the log-humps graph beloved of Hans Rosling, are wildly misleading.

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