The rise in economic inequality is one of the most potent 21st century memes. You could even call it pervasive. It dominates the debate in the Democratic presidential contest and has a material echo in our current federal election. The rich – particularly the notorious one per cent – must be made to “pay their…
Cynicism and class divisions are leading to cultural insecurity, reducing tolerance and compassion. Something must change
The international landscape is in unprecedented flux, challenging assumptions of social, political and economic progress for youth everywhere. Globalization, technological advances, demographic pressures from global migration, sectarian and ideological conflicts, and economic disparities have all affected the cohesiveness of societies. Shifting unemployment patterns and doubts about the sustainability of social security systems and the environment…
U.S. households not only live with higher income inequality than in Canada but more than half are worse off in terms of purchasing power
Regardless of whether America is great, or about to be great again, a new analysis shows that Canadians outrank Americans on household income. The Economist magazine recently devoted a long section to a profile of Canada with frequent comparisons to the United States. Among the statistics highlighted were that Canadians’ life expectancy was three years…Let's face it: women's sports are second-tier entertainment, which even most women don't support
The men’s final at Wimbledon on Sunday took five immortal sets of tennis over four hours 57 minutes before Novak Djokovic finally outlasted Roger Federer in a stirring contest that ended in a fifth-set tiebreaker at 13-12. Saturday’s women’s final lasted just 56 minutes in two quick sets for Simona Halep to upset Serena Williams.…
Using multiple sources of data can bring circumstances into sharper focus. That will allow us to concentrate on helping only those people who are truly in need
Claims of rising inequality are rampant in the media, mainly because many pundits confuse inequality with poverty and assume that the poor are enjoying lower living standards than before. But there’s no reason to expect poverty to move in the same direction as inequality – incomes rising at an uneven pace will reduce problems of…
The U.S. senator is using baseball to decry the inequalities that crop up in capitalism. That’s just nonsense
Somewhere in heaven, baseball pioneer Curt Flood is smacking his forehead with his palm. The reason for Flood’s exasperation? Comments from avowed socialist and Democratic Party presidential candidate Bernie Sanders. On the stump, the Vermont senator is using baseball to decry the inequalities that crop up in capitalism. “If we are a nation that can…
The burden of the debt financing falls on the whole population, and low-income Canadians can least afford to contribute
There’s been much talk about the federal government’s attempts to enact redistributive policies to reduce income inequality in Canada. But the way these measures are funded could increase inequality. One think-tank in Quebec surveyed a panel of 70 policy experts who noted that the latest federal budget would, on the whole, reduce inequality. I contributed…
The proportion of households below the LICO has been falling for two decades and is now at its lowest level ever at 7.8%
Donald Trump isn't the only American president to say dumb things. Lyndon Johnson, expressing his concern for the well-being of the American people, said that he thought it was a shame that half the U.S. population lived at a below-average income. As anyone who ever stayed awake in math class knows, an average is a…
By 2028, women will control just under $3.8 trillion or more than one-third of total financial assets
Women in Canada currently control about $2.2 trillion of Canadian assets, a rising amount of wealth and increasing influence on the overall economy, says a new report released on Monday by CIBC Capital Markets. “More needs to be done in order to fully utilize women's economic might, but the direction is clear,” said the report,…
Monetarism’s failings are giving rise to the new economy of wellbeing
The world is changing. And while many of these changes are obvious, such as the revolution in technology or the tectonic shifts in world politics, there are also significant changes taking place in the ideas that underpin the science of economics. Why do these ideas matter? They matter because economics is a foundational science. The…