Increasing Prosperity, Declining Poverty, & Decreasing World Income Inequality – Max Roser

Mind the income gap

Mind the income gap (Photo credit: Wikipedia)

This is an outstanding graphical presentation by Oxford researcher, Max Roser. It provides a short data-visualization presentation,  showing how the world is becoming a better place.

Source: Increasing Prosperity, Declining Poverty, & Decreasing World Income Inequality

It’s good to see evidence of increasing prosperity, declining poverty and decreasing world income inequality. However, I fear that in certain advanced economies, like the US and the UK, the wealthy and privileged are still getting all the cream.

Thoughts?

 

2 responses

  1. Max Roser, in this uplifting piece via Dr Alf, is right but the figures support what Dr Alf is saying about the UK and America as well.

    The gap between a person on average wages and a Times 1000 Chief Executive used to be about 45 to 150 years ago, whereas now with bonuses and “other emoluments” factored in and the application of higher tax rates, the gap is as much as 450 to 1 and getting bigger.

    In America, the gap between Joe Sixpack and a Fortune 500 CEO can be 500 to 1 and in the case of a “Master of the Universe”,1000 to 1.

    In Germany and Japan, the figures are closer to 25 to 1.

    Something needs to give but I see things getting worse before they get better as the middle classes are eroded and eliminated by AI, expert systems, automation and offshored shared services centres such as the massive facility GE has set up in Mumbai, India which contains thousands of British-trained Indian chartered accountants, MBAs and financial modellers doing the sort of work that Dr Alf used to do as a young man and eventually able to do the work he used to do after he became a Financial Director with global credentials before he became an interim manager before his current incarnation as a remotely based business expert, blogger, writer and thought leader.

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