By David Amaglobeli, Vitor Gaspar, and Paolo Mauro The COVID-19 pandemic is intensifying the vicious circle of inequality. To break this pattern and give everyone a fair shot at prosperity, governments need to improve access to basic public services—such as health care (including vaccination) and education—and strengthen redistributive policies. For most countries, this would require […]
By Chang Yong Rhee and Katsiaryna Svirydzenka The Sydney Opera resumed live performances and the city of Melbourne recently hosted the Australian Open tennis tournament with fans (mostly) in attendance. Japan is back to planning the delayed 2020 Summer Olympics, while China focuses on the Beijing 2022 Winter Games. Having been hit by COVID-19 first, […]
Thatcherite narrative on wealth creation has gone unchallenged for decades.
The post To Tackle Inequality, We Need to Start Talking About Where Wealth Comes From appeared first on Evonomics.
By Kristalina Georgieva As G20 finance ministers and central bank governors meet virtually this week, the world continues to climb back from the worst recession in peacetime since the Great Depression. The IMF recently projected global GDP growth at 5.5 per cent this year and 4.2 per cent in 2022. But it is going to […]
By Philip Barrett, Sophia Chen, and Nan Li In 1832, the great cholera pandemic hit Paris. In just a few months, the disease killed 20,000 of the city’s 650,000 population. Most fatalities occurred in the heart of the city, where many poor workers lived in squalid conditions, drawn to Paris by the Industrial Revolution. The […]
Shuffling of resources so that the worst off are lifted up and the top end is brought down can dramatically increase trust.
The post Why Does Inequality Produce High Crime and Low Trust? appeared first on Evonomics.
2020 will soon be over, and with it an incredibly trying year. The editors at IMFBlog wish you good health and peace over the holidays ahead, and into the new year. In case you missed some of the compelling facts and figures in our Charts of the Week series this year, we have pulled together […]
By Gita Bhatt There are decades where nothing happens, and there are weeks where decades happen. This saying could not be more apt today. The pandemic—which has disrupted the world in profound ways—has prompted countries to roll out significant policy changes that might otherwise have taken years. It has also sped the arrival of technologies […]
By Davide Malacrino Wealth begets wealth. This simple concept of privilege has added to growing discontent with inequality that has escalated under the shadow of the COVID-19 pandemic. A paper co-authored this year by economists from the IMF and other institutions confirms that wealthier people are more likely to earn higher returns on their investments. […]
By Gabriela Cugat and Futoshi Narita Emerging markets and developing economies grew consistently in the two decades before the COVID-19 pandemic hit, allowing for much-needed gains in poverty reduction and life expectancy. The crisis now puts much of that progress at risk while further widening the gap between rich and poor. Despite the pre-pandemic gains in […]