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Begin New Search Topic Inequality Publication Year within 3 Years

1. The Invisible Leverage of the Top 1 Percent: Absentee Debtors and Their Hedge Funds

Author:
Stefano Sgambati
Publication Date:
01-2024
Content Type:
Working Paper
Institution:
City Political Economy Research Centre (CITYPERC), University of London
Abstract:
The existing literature on finance, debt and inequality depicts economic elites as a creditor class. According to a popular thesis, over the past four decades, the rich and ultra-rich households in the top 1 percent have experienced a saving glut (excess income), which they have invested in the debts of the poor and their governments. While it is undeniable that the rich have expanded their income share at the expenses of the poor, to refer to them as ‘creditors’ or ‘lenders’ is a misrepresentation of how they actually expand their wealth and income shares by financial means. For it conceals the fact that a great deal of their investments is leveraged, that is, carried out with borrowed money. This article shows that the debts generated by individuals and households in the top 1 percent easily surpass those of all other households and even exceed those of the most indebted states in the world. However, these debts are hard to estimate, and indeed they are not accounted for in statistics on household debt. This is because households in the top 1 percent do not borrow from banks, like normal households do, but they are instead absentee debtors who borrow through the hedge funds, private equity firms, personal investment trusts, and big banks of which they are dominant shareholders and ultimate beneficiaries. To gain an insight into their invisible leverage, the article looks at how much hedge funds borrow, and why their leverage matters.
Topic:
Debt, Political Economy, Inequality, Finance, Elites, Hedge Funds, and Leverage
Political Geography:
Global Focus

2. IMF Standby Agreements and Inequality: The Role of Informality

Author:
Ceyhun Elgin and Adem Elveren
Publication Date:
01-2024
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
In this paper we investigate the response of two inequality metrics to different IMF programs. To this end, we use a relatively large annual (unbalanced) cross-country panel dataset that includes the Gini index and the Estimated Household Income Inequality as the two relevant inequality metrics and covers the period from 1950 to 2016 in an annual basis for 159 countries. Our empirical analysis indicates that in countries where the informal sector size (as percentage of GDP) is relatively larger, the extent of income inequality increases after different IMF programs, but particularly so after standby arrangements. However, we also show that the opposite is true, when informal sector size is small, i.e., inequality declines after different IMF programs.
Topic:
Political Economy, Inequality, IMF, and Informal Economy
Political Geography:
Global Focus

3. Multidimensional Impact of COVID-19 on Education and Implications on Inclusive Recovery

Author:
Gee Young Oh
Publication Date:
04-2024
Content Type:
Policy Brief
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
This report aims to present the findings of Oh et al. (2023), which analyzes the post-pandemic inequality levels in developing countries and derives policy implications for Korea's international development cooperation (IDC) to help reduce inequality, especially in the education sector. The impact of COVID-19 on education is multidimensional, with varying levels of heterogeneity across countries, regions, households, and individual stakeholders, including students, parents, and teachers. To comprehensively understand this multidimensionality, the study compares situations in two countries to explore inter- and intra-country educational disparities. After identifying such multidimensionality, the study derives policy implications on how Korea’s IDC can better target post-pandemic inequality in education.
Topic:
Development, Education, International Cooperation, Inequality, and COVID-19
Political Geography:
Asia and South Korea

4. Episode 01: Except for Palestine: The Limits of Progressive Politics

Author:
Mark Lamont Hill and Mitchell Plitnick
Publication Date:
02-2024
Content Type:
Video
Institution:
Center for Security, Race and Rights (CSRR), Rutgers University School of Law
Abstract:
Scholar Marc Lamont Hill and Israel-Palestine expert Mitchell Plitnick spotlight how holding fast to one-sided and unwaveringly pro-Israel policies reflects the truth-bending grip of authoritarianism on both Israel and the United States. 'Except for Palestine' deftly argues that progressives and liberals who oppose regressive policies on immigration, racial justice, gender equality, LGBTQ rights, and other issues must extend these core principles to the oppression of Palestinians.
Topic:
Human Rights, Politics, Authoritarianism, Inequality, LGBT+, Liberalism, Progressivism, Gender, Palestinians, and Racial Justice
Political Geography:
Middle East, Israel, Palestine, North America, and United States of America

5. Regionalism and the Agenda 2030: Inequality and Decent Work in Mexico

Author:
Karina Lilia Pasquariello Mariano, Roberto Goulart Menezes, and Marcela Franzoni
Publication Date:
12-2024
Content Type:
Journal Article
Journal:
Revista Brasileira de Política Internacional (RBPI)
Institution:
Instituto Brasileiro de Relações Internacionais (IBRI)
Abstract:
The present study analyzes the limits of regionalism in achieving SDG 8, with a focus on the Mexican reality. It is based on the hypothesis that the role of the national government is decisive for incorporation of the Agenda 2030 in cases of regionalism based on an intergovernmental dynamic. We argue that NAFTA had a limited impact on improving working conditions in Mexico, as it only affected export-oriented regions and sectors. Since 2019 there has been an increase in the minimum wage, which can be explained not only by enforcing the USMCA, but also by a compatibility between internal and external agendas. Therefore, the case of Mexico allows us to affirm that the national government was decisive for the incorporation of the Agenda 2030 in the context of intergovernmental agreements.
Topic:
Inequality, NAFTA, Regionalism, Work, and Agenda 2030
Political Geography:
Latin America and Mexico

6. How to create decent work for women: Policy lessons for low- and middle-income countries

Author:
Ashwini Deshpande, Janneke Pieters, Kunal Sen, and Maria C. Lo Bue
Publication Date:
03-2024
Content Type:
Policy Brief
Institution:
United Nations University
Abstract:
Despite advancements for gender equality in some spheres, labour market outcomes for women continue to be worse than for men. Gender gaps in pay, labour force participation rates, and measures of job quality are stubbornly persistent and continue to hamper women’s economic empowerment globally. Economic development and social change should improve women’s labour market outcomes, but even with large-scale public policy actions, gender-based inequalities are difficult to address.
Topic:
Women, Inequality, Income Inequality, Economic Development, Labor Market, and Gender
Political Geography:
Global Focus

7. Labour market inequality in two Asian giants Indonesia and India compared

Author:
Kunal Sen
Publication Date:
05-2024
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
We examine the nature of labour market inequality in Indonesia and India, using a common conceptual approach drawing from the job ladder framework. In the framework, we differentiate between self-employment and wage-informal and between formal, upper tier informal, and lower tier informal jobs. We find that both countries have a large proportion of workers in lower tier jobs, though the importance of wage-employment is larger in Indonesia. There are more workers in formal wage-employment in Indonesia than India. There are also sharp disparities in the earnings of workers in different tiers of the labour market in Indonesia and India, and there is limited evidence of convergence of the earnings of the lower tier informal workers to that of formal workers, at least for Indonesia. We also find that gender and educational level are important correlates of work status in both countries. Females and less educated workers occupy the lower tiers of the labour markets in the two countries.
Topic:
Employment, Inequality, Economy, Labor Market, and Informal Economy
Political Geography:
South Asia, Indonesia, India, and Asia

8. Not without her: A roadmap for gender equality and Caribbean prosperity

Author:
Wazim Mowla and Valentina Sader
Publication Date:
03-2024
Content Type:
Special Report
Institution:
Atlantic Council
Abstract:
The Caribbean is one of the most vulnerable regions globally. It harbors economies that are open-faced and import-dependent, making it susceptible to the ravages of climate change, fluctuating commodity prices, and inflationary pressures. While governments and financial institutions grapple with these perpetual stresses, it is the Caribbean citizens, particularly women and girls, who bear the heaviest burden. Nestled in this uniquely vulnerable region, women and girls face a multitude of challenges, demanding comprehensive support from both governments and financial institutions to enhance their resilience and opportunities throughout society. Their integration across various sectors, including government, business, and local organizations, emphasizes that addressing gender challenges cannot occur in isolation. The global issues looming over the Caribbean magnify the specific hurdles confronting women and girls. From gender-based violence (GBV) and economic barriers to limited political influence and the disproportionate impacts of climate change, the challenges intertwine, creating a crisis of gender inequality and inequity across the Caribbean. This publication compiles findings from a yearlong consultative effort, revealing that the challenges faced by women and girls are rooted in societal perceptions of their roles and restricted access to tools and resources. To overcome these barriers, a fundamental reshaping of social norms, alongside political and financial institutions, is imperative. Moreover, integrating women and girls into the development model aligns with the region’s broader ambitions of achieving UN Sustainable Development Goals (SDGs), unlocking untapped human capital and fostering long-term prosperity. In collaboration with the UN Women Caribbean Multi-Country Office, the Atlantic Council’s Adrienne Arsht Latin America Center and its Caribbean Initiative embarked on a year-long partnership. This initiative aimed to address GBV, economic empowerment challenges, limited political influence, and the disproportionate effects of climate change facing women and girls in the Caribbean. The extensive consultative process involved roundtable discussions, capacity-building sessions, and one-on-one consultations, shedding light on the preconceptions held by both men and women toward women and girls in Jamaica and Guyana during 2023. The partnership has honed in on social norms as a focal point, recognizing their impact on perceptions and discussions about the challenges faced by women and girls.
Topic:
Climate Change, Women, Inequality, Economy, Resilience, and Gender
Political Geography:
Latin America and Caribbean

9. Guide for the Social Inclusion of Formerly Incarcerated Individuals

Author:
Melina Risso, Vivian Calderoni, Camila Nadalini de Godoy, Carolina Loeb, Marina Alkmim, and Julia Quirino
Publication Date:
06-2024
Content Type:
Special Report
Institution:
Igarapé Institute
Abstract:
The social inclusion of formerly incarcerated individuals is a global challenge that requires reforms in the justice system, strengthening of the rule of law, and the implementation of specific public policies. This guide presents a synthesis of strategies adopted by programs on the topic in different countries, including Brazil, which can serve as a model for implementing and improving initiatives nationwide. Brazil ranks third in the world in the absolute number of incarcerated individuals, reflecting social, racial, and educational inequalities present in its prison population and highlighting the selectivity of the justice system, which tends to predominantly imprison young, low-educated Black individuals. Upon release, former prisoners face numerous challenges, such as difficulty accessing support and assistance programs due to limited availability, which is generally concentrated in capital cities. It is necessary to invest in overcoming this scenario by implementing and improving programs and strategies, considering regional specificities and significant variations in incarceration rates among states. Without preparation and material, financial, psychological, and social support, the challenges for social reintegration become often insurmountable obstacles. This not only makes communities more insecure but also contributes to criminal recidivism, establishing a vicious cycle of crime and social rejection. This guide was developed to support the reversal of this scenario by adopting a rights-guarantee perspective. Its objective is to assist in the implementation and improvement of initiatives directed at the social inclusion of formerly incarcerated individuals across the country. Based on the analysis of 123 national and international programs for the attention of former prisoners, this document presents the purposes of these programs and details the strategies adopted.
Topic:
Prisons/Penal Systems, Inequality, Public Policy, Labor Market, Inclusion, Reintegration, and Criminal Recidivism
Political Geography:
Brazil and South America

10. Social Reintegration of Former Inmates: Networked Strategies for Promoting Public Policies and Strengthening Civil Society Organizations

Author:
Melina Risso, Vivian Calderoni, Camila Nadalini de Godoy, Carolina Loeb, Marina Alkmim, and Julia Quirino
Publication Date:
04-2024
Content Type:
Special Report
Institution:
Igarapé Institute
Abstract:
The social reintegration process for former inmates presents challenges that extend beyond the confines of the justice system alone. In the Brazilian context, marked by regional disparities and social, racial, and educational inequalities, the lack of material, financial, and psychosocial support places ex-inmates in a cycle of social rejection and criminality. The deficiency of adequate investments, exacerbated by an emphasis on punishment over post-release reintegration, intensifies these challenges. Thus, it underscores the importance of networked collaboration among public, private, and civil society sectors to optimize resource use, promote integrated solutions, and overcome obstacles in assisting former inmtes, providing multidimensional support for social reintegration. This report outlines the strategies of five network-based initiatives aimed at former inmates, implemented both in Brazil and globally. The document details how these initiatives contribute to strengthening the social reintegration of former inmates and illustrates how they can serve as models to inspire other coordinated actions in the same field. Social reintegration of former inmates and its related concepts used here synonymously – such as (re)insertion, (re)inclusion, (res)socialization, (re)education, (re)adaptation, and (re)habilitation – should be seen as a priority not only by the criminal justice system but by all stakeholders who may have a direct or indirect influence on this process. It is a global challenge that requires reforms in the justice system, strengthening the rule of law, and implementing specific public policies focused on the various challenges these individuals face in their resocialization process, including aspects such as social interaction, employment opportunities, and access to housing, health, and education. This study acknowledges that the pursuit of social reintegration should be approached from the perspective of ensuring rights and not limited to the view of security and reducing criminal recidivism. This principle was adopted based on the recognition that the criminal justice system is an environment that creates and perpetuates inequalities for the individuals within it. Therefore, ensuring the rights that were denied before, during, and after incarceration is essential for effective social reintegration. Interventions and programs with multiple approaches for this group are rarely accessible, limited to sporadic opportunities to access essential services. In Brazil, which ranks as the third country worldwide in terms of the absolute number of incarcerated individuals, there is a significant variation in incarceration rates across states, which highlights the regional disparities. The composition of Brazil’s prison population also reflects social, racial, and educational inequalities, emphasizing the selective nature of a justice system which imprisons a disproportionate number of black, young, and uneducated people.
Topic:
Security, Civil Society, Human Rights, Prisons/Penal Systems, Inequality, Reintegration, and Criminal Recidivism
Political Geography:
Brazil, South America, and Global Focus