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Quintile measures of inequality satisfy the transfer principle only in its weak form because any changes in income distribution outside the relevant quintiles are not picked up by this measures; only the distribution of income between the very rich and the very poor matters while inequality in the middle plays no role.
Economic inequality is an umbrella term for a) income inequality or distribution of income (how the total sum of money paid to people is distributed among them), b) wealth inequality or distribution of wealth (how the total sum of wealth owned by people is distributed among the owners), and c) consumption inequality (how the total sum of money spent by people is distributed among the spenders).
A December 2011 Gallup poll found a decline in the number of Americans who rated reducing the gap in income and wealth between the rich and the poor as extremely or very important (21 percent of Republicans, 43 percent of independents, and 72 percent of Democrats). [191] Only 45% see the gap as in need of fixing, while 52% do not.
This is a list of countries and territories by income inequality metrics, as calculated by the World Bank, UNU-WIDER, OCDE, and World Inequality Database, based on different indicators, like Gini coefficient and specific income ratios.
Since the late 1970s, income inequality in the U.S. has grown by nearly 20%. The Great Recession has brought the disparity between the rich and the poor to the forefront of the news.
The disparity between rich and poor countries at present is noted in the very first paragraph of the proposed treaty to be discussed in Geneva. The draft cites "the catastrophic failure of the ...
Thailand has been ranked the world's third most unequal nation after Russia and India, with a widening gap between rich and poor according to Oxfam in 2016. [33] A study by Thammasat University economist Duangmanee Laovakul in 2013 showed that the country's top 20 land owners owned 80 percent of the nation's land. The bottom 20 owned only 0.3 ...
And for the group of people in between the bottom 50% and top 1%—mostly the lower- and middle-income groups in North America and Europe—income growth has been either sluggish or flat." [16] The WIR 2018 shows that, "The gap between rich and poor has increased in nearly every region in the world over the past few decades."