The relevance of a hypothesis on inequality caused by selfishness
2 years, 6 months ago

The relevance of a hypothesis on inequality caused by selfishness

Live Mint  

Samuel Johnson was emphatic: “Getting money is not all a man’s business: to cultivate kindness is a valuable part of the business of life.” As a normative observation, this is unexceptionable. Support for the selfish rich inequality hypothesis rises with the level of corruption and decreases with an individual’s rank in the country’s income distribution. The study’s final analysis shows that popular belief in selfish rich inequality is positively associated with broad agreement that inequality in their country is unfair and that the government should aim to reduce it. Our analysis shows that while there is more support for the selfish rich inequality hypothesis among richer people in India, and lowest among the country’s unemployed, there is less support among females, people above the age of 65 years and those living in urban areas. Larger shares of lowest income and middle income groups believe both in the selfish rich inequality and the statement that it is not possible in the country to work hard and get ahead.

India Analysis Income Poor Behaviour Class Fair Rich Inequality Selfish Our Analysis Hypothesis  relevance  poor  inequality  rich  income  analysis  caused  support  behaviour  selfishness  hypothesis  class  selfish

History of this topic

Should India take from the rich, give the poor? A new election flashpoint
7 months, 2 weeks ago

Should India take from the rich, give the poor? A new election flashpoint

Al Jazeera  

As India enters the second half of its giant election, wealth distribution has emerged as a central campaign faultline — and a battering ram for PM Modi to target the opposition. In an April 24 television interview, Sam Pitroda, an adviser to the Nehru-Gandhi family and head of the overseas wing of the Congress party, added another twist to the …

Mint Primer | Redistribution: Can it benefit India’s poor?
7 months, 3 weeks ago

Mint Primer | Redistribution: Can it benefit India’s poor?

Live Mint  

Theoretically, redistribution of wealth is a good way to bring down economic inequality. Bharatiya Janata Party has portrayed this idea as an attempt by the Congress Party to grab people’s wealth and redistribute it, especially to minorities. According to a study published by The World Inequality Lab, richest 1% of Indians now own as much as 40% of the country’s …

Patralekha Chatterjee | Why isn’t rising inequality turning into a poll issue?
8 months, 3 weeks ago

Patralekha Chatterjee | Why isn’t rising inequality turning into a poll issue?

Deccan Chronicle  

The view from the penthouse and the pavement is staggeringly different. By 2022-23, the top one per cent income and wealth shares are at their highest historical levels; India’s top one per cent income share is among the very highest in the world, higher than even South Africa, Brazil, and the United States, notes the paper, titled “Income and Wealth …

Inequality report renews question on growth model
9 months ago

Inequality report renews question on growth model

New Indian Express  

India’s income and wealth inequality has touched historic peaks, making it one of the world’s most unequal countries, according to the World Inequality Lab’s new working paper. Authored by renowned economists including Nobel laureate Thomas Piketty, the report estimates the richest citizens, or the top 1 percent, own 40.1 percent of the country’s wealth and 22.6 percent of the total …

Inequality worsening in India with share of top 1% in total income at new high, says new paper co-authored by Piketty
9 months ago

Inequality worsening in India with share of top 1% in total income at new high, says new paper co-authored by Piketty

Hindustan Times  

The share of the top 1% of Indians in total income and wealth is expected to have reached its highest ever level in 2022-23, according to a working paper published by the World Inequality Lab at the Paris School of Economics. The working paper by four economics researchers – Nitin Kumar Bharti, Lucas Chancel, Thomas Piketty, and Anmol Somanchi – …

India among top countries with high income, wealth inequality: UNDP report
1 year, 1 month ago

India among top countries with high income, wealth inequality: UNDP report

Live Mint  

India has emerged among top countries with high income and wealth inequality but the share of the population living in multidimensional poverty fell from 25 to 15 per cent between 2015-16 and 2019-21, the UNDP said in a new report. Despite these successes, poverty remains persistently concentrated in states that are home to 45 per cent of the country's population …

The selfishness and graft of the rich drive inequality
2 years, 5 months ago

The selfishness and graft of the rich drive inequality

The Hindu  

G.K. Chesterton, the writer, asserted in The Flying Inn : “The rich are the scum of the earth in every country”. Support for the selfish rich inequality hypothesis rises with the level of corruption and decreases with an individual’s rank in the country’s income distribution. Criminality and corruption In a variation, if state influence is interacted with the incidence of …

The cold truth about India’s income inequality
2 years, 11 months ago

The cold truth about India’s income inequality

The Hindu  

The latest edition of the World Inequality Report has confirmed that the world continues to sprint down the path of inequality. “Global multimillionaires have captured a disproportionate share of global wealth growth over the past several decades: the top 1% took 38% of all additional wealth accumulated since the mid-1990s, whereas the bottom 50% captured just 2% of it.” India’s …

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