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Reducing inequality will not happen on its own – explicit policies are needed

April 17, 2015

For the past decades, in many countries of the world, the State has slowly retreated amidst the belief that by giving more space to market forces there would be greater economic growth and thus greater economic opportunities. This belief was manifest in the drive to liberalize goods and financial markets in the 1980s and 1990s across the world, and in the decreased investment by the public sector of many advanced economies in public services and goods as well as in redistributive policies. Read the rest of this entry »

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Philippines’ ultra rich grows 4.5% in 2014

April 6, 2015

MANILA, Philippines – The Philippines’ ultra rich grew in numbers and in terms of wealth last year, according to the Wealth-X and UBS World Ultra Wealth Report 2014. Read the rest of this entry »

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Wealth inequality

March 21, 2015

NIMBYs in the twenty-first century

SINCE the publication of “Capital in the Twenty-First Century”, Thomas Piketty has won many plaudits for his work on inequality. The book has so far sold more than 1.5m copies. Its arguments have been praised by Nobel-prize winners and politicians alike. Last year it won the Financial Times’s business book of the year award, despite the newspaper’s attempts to poke holes in the book’s data and arguments. On March 25th Prospect magazine put Mr Piketty atop its World Thinkers list for 2015 (alongside Yanis Varoufakis, Greece’s leather-jacket wearing finance minister, Naomi Klein and Russell Brand, it should be noted). But a new challenge to Mr Piketty’s book has just appeared, and from an unexpected direction. Read the rest of this entry »

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Over 1M Pantawid Pamilya kids to graduate from elem, high school

March 20, 2015

From the Department of Social Welfare and Development

Sec. Soliman announces during this morning’s briefing that more than 300,000 children of Pantawid Pamilya will graduate from high school this March. Read the rest of this entry »

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The decline in unionization in recent decades has fed the rise in incomes at the top

March 6, 2015

Power from the People

FINANCE & DEVELOPMENT, March 2015, Vol. 52, No. 1
Florence Jaumotte and Carolina Osorio Buitron

The decline in unionization in recent decades has fed the rise in incomes at the top

Inequality has risen in many advanced economies since the 1980s, largely because of the concentration of incomes at the top of the distribution. Measures of inequality have increased substantially, but the most striking development is the large and continuous increase in the share of total income garnered by the 10 percent of the population that earns the most—which is only partially captured by the more traditional measure of inequality, the Gini coefficient (see Chart 1). Read the rest of this entry »

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Labour Markets, Institutions and Inequality

March 6, 2015

View the summary here

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Want to tackle inequality? Shore up collective bargaining

March 3, 2015

From the forums in Davos to the protests taking place on the streets: inequality is the defining challenge of our time. It hurts economic growth, denies workers their fair share and robs families of their hopes for a better future. Read the rest of this entry »

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Engendering development: the status of women in the Philippines

March 2, 2015

Women make up over half of our population. Their contribution to society has been incalculable, but disparities clearly remain between the fulfillment of their needs, on the one hand, and the services and protections afforded them by the state, on the other. Read the rest of this entry »

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What the middle class doesn’t understand about rich people

February 26, 2015

Few people in the middle class really understand the mindset of the richest people.

After all, if they did, they would be among the top earners as well. We’ve all heard the remarks: Rich people are lucky, rich people had an unfair advantage, rich people are crooks, rich people are selfish, etc. These are mostly empty statements with little proof to back them up. Read the rest of this entry »

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A remedy for inequality

February 24, 2015

Building and bolstering labour market institutions is crucial for reducing inequality because market forces alone will not do the job.

Apparently, the first step in solving a problem is admitting that one exists. If so, it is welcome that inequality trends are in the spotlight and there is concern about its potential consequences. But now, it is time to focus attention on reverting these unsettling trends. Read the rest of this entry »