inequality – Page 6 – Desdemona Despair

World gross product, level and annual changes, 2010–2020 and projected through 2021. The COVID-19 pandemic has paralyzed large parts of the global economy, sharply restricting economic activities, increasing uncertainties and unleashing a recession unseen since the Great Depression. Global gross domestic product (GDP) is forecast to shrink by 3.2 per cent in 2020, with only a gradual recovery of lost output projected for 2021. Cumulatively, the world economy is expected to lose nearly $8.5 trillion in output in 2020 and 2021, nearly wiping out the cumulative output gains of the previous four years. Data: UN DESA, based on scenarios produced with the World Economic Forecasting Model (WEFM). Graphic: UN DESA

June 22, 2020

UN World Economic Situation report: Global economy to contract by 3.2 percent in 2020 – 34 million people to fall below the extreme poverty line

13 May 2020 (UNDESA) – Against the backdrop of a devastating pandemic, the global economy is projected to contract sharply by 3.2 per cent this year, according to the United Nations World Economic Situation and Prospects (WESP) mid-2020 report, released today. The global economy is expected to lose nearly $8.5 trillion in output over the […]

A performance protest on 15 June 2020 in Brasilia honors Brazilians who died after contracting the novel coronavirus. Photo: Adriano Machado / Reuters

June 16, 2020

Brazil ignored the warnings about COVID-19 – “A human catastrophe of unimaginable proportions”

By Terrence McCoy 16 June 2020 RIO DE JANEIRO (The Washington Post) – Weeks ago, when this seaside metropolis had recorded fewer than 10,000 cases of the novel coronavirus and there still appeared to be time, some of Brazil’s most respected scientists made their last-ditch appeal. The country had reached a pivotal juncture. Cases were […]

Map showing the Global Peace Index for 2020. The average level of global peacefulness deteriorated 0.34 percent on the 2020 GPI. This is the ninth time in the last 12 years that global peacefulness has deteriorated. Graphic: Institute for Economics and Peace

June 13, 2020

Global peacefulness falls for the fourth time in the last five years – “We find ourselves at a critical juncture”

11 June 2020 (Institute for Economics and Peace) – This is the 14th edition of the Global Peace Index (GPI), which ranks 163 independent states and territories according to their level of peacefulness. In addition to presenting the findings from the 2020 GPI, this year’s report includes an analysis of the effect of the COVID-19 […]

Nations ranked by happiness, 2017-2019. Graphic: World Happiness Report 2020

March 23, 2020

World Happiness Report 2020: Rapid increase in negative affect over last decade continues, driven by sadness, worry, and anger

20 March 2020 (Sustainable Development Solutions Network) – […] We next examine the global pattern of positive and negative affect in the third and fourth panels of Figure 2.2. Each figure has the same structure for life evaluations as in the first panel. There is no striking trend in the evolution of positive affect, except […]

Map showing climate risk by country, 2017. The climate risk of each country is based on its ND-GAIN Index score for 2017. The ND-GAIN Index is a composite measure, with a range of 0-100, of a country’s vulnerability to climate change and its readiness to improve resilience. Vulnerability is quantified by the level of exposure, sensitivity and adaptive capacity of six life-supporting sectors (food, water, health, ecosystem services, human habitat and infrastructure). Readiness measures a country’s ability to realize adaptive actions in the economic, governance and social spheres. Data: University of Notre Dame Global Adaptation Initiative Index (available at https://gain.nd.edu/). Graphic: UNDESA

February 21, 2020

U.N. warns that runaway inequality is destabilizing the world’s democracies – “Efforts to reduce inequality will inevitably challenge the interests of certain individuals and groups. At their core, they affect the balance of power.”

By Christopher Ingraham 11 February 2020 (The Washington Post) – Runaway inequality is eroding trust in democratic societies and paving the way for authoritarian and nativist regimes to take root, according to a dire new report from the United Nations. The findings note that solutions — including robust social safety nets, an active redistribution of wealth and […]

A boy plays on a phone after the flood in Bekasi, Indonesia, on 3 January 2020. Photo: Sijori Images / Barcroft Media / Getty Images

January 14, 2020

Flooding in Jakarta is the worst for over a decade, more rainfall expected – “It was like the end of the world”

9 January 2020 (The Economist) – “It was like the end of the world,” says Nurhayati, dabbing her eyes with the hem of her hijab. On December 31st swollen clouds emptied over Indonesia’s capital, dumping 377 millimetres of rain in one day. That is the most since records began in 1886, according to the state […]

Map showing Amazon CamperForce locations in Arizona, Kentucky, and Tennessee. Graphic: Amazon

January 4, 2020

The decade in which everything was great but felt terrible: in the 2010s, the U.S. middle class shrank, longevity fell, and a whole generation fell behind

By Annie Lowrey 31 December 2019 (The Atlantic) – If I had to pick the story that best captured the economy of the 2010s, it might be the tale of CamperForce: a group of elderly nomads, living in vans and RVs, spending their twilight years temping at Amazon fulfillment centers. There’s a positive spin to the […]

The geographic breakdown of each percentile of the global distribution of income evolved, 1990-2016. In 1990, 33 percent of the population of the world’s top 0.001 percent income group were residents of the United States and Canada. In 2016, 5 percent of the population of the world’s top 0.001 percent income group were residents of the Russian Federation. Data: Alvaredo, et al., 2018, based on data from the World Inequality Database http://WID.world. Graphic: UNDP

December 18, 2019

2019 Human Development Report says unchecked inequality growth may trigger a “new great divergence” in society not seen since the Industrial Revolution – “This is the new face of inequality”

BOGOTÁ, 9 December 2019 – The demonstrations sweeping across the world today signal that, despite unprecedented progress against poverty, hunger, and disease, many societies are not working as they should. The connecting thread, argues a new report from the United Nations Development Programme (UNDP), is inequality. “Different triggers are bringing people onto the streets — […]

Share of national wealth owned by each generation, by median cohort age. Baby boomers — those born between 1946 and 1964 — collectively owned 21 percent of the nation’s wealth by the time their generation hit a median age of 35 in 1990. Generation X (born from 1965 to 1980) came of age during the era of wage stagnation and growing inequality ushered in by the 1970s and ’80s. When the typical Gen Xer reached 35 in 2008, his or her share of the nation’s wealth was just 9 percent, less than half that of boomers at a comparable point in life. Millennials haven’t hit the 35 mark yet — that won’t happen until about 2023 — but their financial situation is relatively dire. They own just 3.2 percent of the nation’s wealth. To catch up to Gen Xers, they’d need to triple their wealth in just four years. To reach boomers, their net worth would need a sevenfold jump. Graphic: Gray Kimbrough / The Washington Post

December 8, 2019

Graph of the Day: The staggering millennial wealth deficit – “To catch up to Gen Xers, millennials would need to triple their wealth in just four years. To reach boomers, their net worth would need a sevenfold jump.”

By Christopher Ingraham 3 December 2019 (The Washington Post) – Few things capture the precariousness of life for today’s young adults like a visualization of their wealth. Economist Gray Kimbrough did just that, using Federal Reserve data to compare how generations fared financially at different points of their life cycles. Wealth is a measure of what people own: […]

People gather for an anti-government protest in Santiago, Chile, Friday, 1 November 2019. Groups of Chileans continued to demonstrate as government and opposition leaders debated the response to weeks of protests that paralyzed much of the capital and forced the cancellation of two major international summits. Photo: AP Photo

December 7, 2019

From Algeria to Hong Kong, 2019 was a year of anti-establishment rage – “What unites the protests is that all are responding to a sense of exclusion, pessimism about the future, and a feeling of having lost control to unaccountable elites”

5 December 2019 (AFP) – Angry citizens have swelled the streets of cities across the globe this year, pushing back against a disparate range of policies but often expressing a common grievance — the establishment’s failure to heed their demands for a more equitable future. While street protests are nothing new, experts say the intense […]