Inequality and Well- Being
With credit to Edward Sussex who sends this summary ” This UNDP-IPC paper concludes that the real per capita income of the vast majority or the first eighty per cent of any nation (vast majority income â€“ VMIpc), is of particular interest in comparing the income levels and income inequality of countries. It finds that average income measures are not good proxies for vast majority incomes. For instance, while Norwayâ€™s real NNI (Net National Income) per capita in 2000 is 10 per cent lower than that of the US, the real per capita disposable income of Norwayâ€™s vast majority is 4 per cent higher. An even greater contrast exists between Mexico and Venezuela: Venezuelaâ€™s real GDP per capita is 6 per cent lower, but its VMI is 13 per cent higher. The paper also concludes that both economic growth and inequality reduction contribute equally to improving the standard of living of the vast majority.”
New IPC Publication
Title: The Vast Majority Income (VMI): A New Measure of Global Inequality
Authors: Anwar Shaikh and Amr Ragab
Series: Policy Research Brief # 7
Click here to download:
I like this, these are the types of things we need to push at those that informate us. At least they are a bit more accurate and to the root.
But alas that is their downfall, they have the truth within them and they speak it quite loudly. I wish I was more optimistic, but hell I didn;t even get a response back from statcan on my query as to why the last labour force report was reported in such a biased manner.
But again, alas I forget that although my efforts were legitimate, the upper crust in that place really do fear for their top heavy salaries. All hands on deck for writing those prereleases these days.
Got to appease the masters and that can be quite delicate given the twists going on within the labour market. I can say this, they sure are glad their is no job quality measure that would clear up the notions of equality within our labour market. We can get to the income distribution in a round about way but as long as those employment numbers continue to be deceivingly low and regionally based and have no alternative measure , then we will continue to see the truth beaten to a pulp. The politics of numbers is a fascinating area of study. I must admit since the Tories came in at the fed level in all my 12 years that I spent in that stat barn, I have never seen the bias so loudly flapping in the wind. Sad really as it is such an abuse, and just more signs of the banana republic attitude this new breed of tories have. Why do they hate our country so much, why do they insist on destroying our industrial base which provides us with the standards of living we enjoy.
Why does my seven year old son state to me he does not like George Bush or his friend Steven Harper. He thinks for some reason Gearge W. is the president of Canada and Steve is the prime minister of Canada. I would correct him, but then again when he is probably right.
Why do they keep insisting that the markets are superior to regulation. Don;t they see what those neoliberal dimensions have done to those south of the border.
Hearing Mr F, the finance minister speak I would have sworn I was in the USA this morning. Quite disgusting really listening to the indecencies coming form his mouth, he should have been rated R for the rich.
Okay small rant for the day.
THe cabin boys should never be blamed when the ship alters course, and that mistake I will not make again.
The link above didn’t work for me, but I found this one that does: