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The Latest Breaking News from Inequality

The gap between higher- and lower-income households is widening as inequality progress since pandemic has ‘gone into reverse,’ BofA economist says

Coming out of the pandemic, Bank of America Institute’s David Tinsley tells Fortune, “there was a narrowing of wealth inequality, and now it’s widening.”

Fortune

The government has asked for bold proposals. Maybe it’s time to consider taxing the family home

The Australian government has “an appetite to be bold and ambitious” in its economic reform agenda. And tax reform is on the menu at its much-publicised reform roundtable, to be held next week.

The Conversation

Wealth taxes don’t always work the way governments hope they will. Here are some alternatives

With the UK government facing a multibillion pound gap between revenue and spending, calls for a wealth tax are becoming louder.

The Conversation

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Where you think you are in society (not where you actually are) matters for how you think about inequality

Imagine society as a ladder with ten rungs. Where would you place yourself? That answer reflects your subjective social status – where you see yourself in society. Importantly, this is not necessarily reflective of where you actually are. Subjective social status matters as it shapes what you believe, how you…

The Conversation

Mexico’s tourism protests are a symptom of longstanding inequality in Latin American cities

When thousands of residents took to the streets of Mexico City in July chanting “Gringo, go home”, news headlines were quick to blame digital nomads and expats. The story seemed simple: tech-savvy remote workers move in, rents go up and locals get priced out.

The Conversation

Gold and gated communities: How rich India’s hoarding fuels inequality

Jo bhi hai wo theek hai, zikra kyon karenHum hi sab jahaan ki, fikra kyon karen.– Sahir Ludhianvi, Phir Subah Hogi, 1958. Truth, when repeated often enough, starts sounding very banal. It just doesn’t register. Take this sentence: India is an economically unequal country. The evidence is all around us, and…

Newslaundry

My travels in Trump’s Florida: Maga superstars, gen Z Republicans – and the shame of ‘Alligator Alcatraz’

Is the US in a new gilded age of inequality? On a 400-mile journey from a triumphant conservative youth summit to a hastily constructed immigration detention centre, the answer became clearer ...

The Guardian - UK

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Is identity-based rhetoric fuelling anti-immigrant violence in Europe?

Anti-immigration protests across England, Northern Ireland, Spain and Poland have grown more frequent – and in some cases violent – as far-right groups gain influence in communities grappling with housing shortages, unemployment and inequality.

Radio France Internationale

Retiring early isn’t all about golf and cruises

Letters: There is widening inequality in pensioner incomes writes Dr Carole Easton, while Jenny Chittenden says many retirees give back to family and community

The Guardian - UK

Why people ignore debt letters – and what it says about inequality today

You get a payment reminder through the letterbox, maybe for a credit card, an overdraft, a bill, or a parking fine. You ignore it and leave the envelope unopened, or put it to one side to deal with later. Many of us will recognise this scenario.

The Conversation

Explained: Why India’s inequality is underestimated

India’s consumption gap appears to shrink, but income inequality is rising fast, as per analysis of India’s consumption data by the World Bank.

Newslaundry

I Asked ChatGPT What Would Happen if Trump Ended Income Taxes — There’s Good News and Bad News

Trump’s plan to replace income taxes with tariffs -- per a tax policy breakdown by ChatGPT -- could raise prices, slash federal revenue and widen inequality.

GOBankingRates

‘Self-termination is most likely’: the history and future of societal collapse

An epic analysis of 5,000 years of civilisation argues that a global collapse is coming unless inequality is vanquished

The Guardian - UK

Strengthening collective labor rights can help reduce economic inequality

Despite the strength of the U.S. economy, the gap between rich and poor Americans is increasing.

The Conversation

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The Guardian - UK

This Labour government has failed. People want real transformative politics – we will give it to them

More than 500,000 people have signed up to our new party to help build a genuine alternative to poverty, inequality and war, says former Labour leader Jeremy Corbyn

The Guardian - UK

Starmer and Reeves should prepare UK for wealth tax, say top economists

PM could raise ‘tens of billions’ while positioning Britain as progressive, say Thomas Piketty and others

The Independent UK

Darren Walker's new book is still hopeful despite growing inequality as he leaves Ford Foundation

Outgoing Ford Foundation President Darren Walker's new book “The Idea of America" is a collection of more than eight dozen texts spanning his 12-year tenure with one of the nation's leading philanthropies

Evening Standard

University of Edinburgh publishes Race Review into colonialist past

The report has been published online, amid a public pledge to stamp address racial discrimination and inequality.

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The Guardian - UK

The Guardian view on global inequality: the rising tide that leaves most boats behind

Editorial: The world’s assets are piling up in the hands of the few as growth is built on widening gaps. That’s not just unfair – it’s economically unsustainable

The Conversation

How public development banks could narrow inequality gaps between the Global North and South

The United Nations’ Fourth International Conference on Financing for Development (FFD4) recently concluded in Seville, Spain. It gathered global leaders from government, development, academia and civil society to discuss key barriers to sustainable development and shape collaborative efforts to address them.

Saving Advice

Your Nobel-Winning Primer For Just $6

This column began as a postscript to yesterday’s Quick Primer On Stablecoins. IF YOU’RE SHORT ON TIME, SCROLL DOWN TO THE CHART AND THE QUESTION. Otherwise...

AAP

RBA not swayed by jobless spike as next rate call looms

Reserve Bank governor Michelle Bullock has pushed back on rate cut expectations and weighed in on Donald Trump's pressure on Fed chair Jerome Powell.

Capital & Main

How Robert Reich Teaches — and Why Inequality Is Still the Lesson

Director, producer of The Last Class discuss Reich’s skill in the classroom and his career-long focus on economic disparities.

The Conversation

Is today’s political climate making dating harder for young people?

The last year has highlighted a political divide between young men and women. Data from elections in several countries shows that women aged 18-29 are becoming significantly more liberal, while young men are leaning more conservative. And a recent 30-country study found generation Z more divided than other generations on…

The Guardian - US

Nine households control 15% of wealth in Silicon Valley as inequality widens

Report finds wealth divide widened in Silicon Valley at double the rate of the whole US over the past decade

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