Tuesday, November 19, 2013

Income Inequality is not Just a US Problem

In fact, it may be worse elsewhere.

A Credit Suisse study of 20 countries reveals that there has been a large increase in income inequality with the largest increase in China over the last 15 years.  Russia, Brazil, and Mexico saw declines in income inequality.

Youth unemployment is a primary driver of income inequality and a serious problem from any number of standpoints.

The Gini coefficient is the measure of income inequality and here are the rankings.

Brazil:  54.7
Mexico: 47.2
China: 42.1
Russia:  40.1
Turkey:  40
U.S.A. 38.0
Greece, U.K., Spain, Portugal, India, Australia, Japan:  33 to34
Canada, Italy France:  31
Germany, Switzerland 29


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