Feeds

Oxfam, you're full of FAIL. Leave economics to sensible bods

Five families own more than 20% of the UK do? Rubbish

Next gen security for virtualised datacentres

Sweden is a hotbed of inequality

We measure inequality by the gini index (or ratio, and wealth ratios are always much more unequal than income ones) where 1.0 indicates that one person has all the income of the nation and 0 tells us there is perfect equality of income.

Can you say "pissing this up the wall?"

We can also measure the gini for market incomes or for incomes after all taxes and benefits. The difference between the two will clearly be the amount of redistribution that is going on.

Among the advanced industrial countries the market ginis are all from the high .30s to the high .40s. Yes, amazingly, the market distribution of incomes in, say, Sweden, is not all that different from that in the UK – and wealth inequality is higher in Sweden than here. The post redistribution ones range from the low .20s to the high .30s.

The actual IMF finding was that moving the gini more than around 13 points through this tax-and-spend redistribution is the excessive kind that harms growth. Meaning that the UK is over this limit while the US is still just under it. And Sweden's wildly over it, of course.

The reason I object to Oxfam doing this sort of stuff is not purely that I'm an ageing reactionary who insists they should get back to feeding the starving. It's also because they're really not very good at this sort of thing. I mean, seriously, when you've got an arch liberal like Jonathan Portes making fun of your pretensions to left-liberalness you really should be able to understand that you're failing somewhat. ®

Bootnote

Interestingly, seven hours after I pointed out to Oxfam that they seemed ignorant of this negative wealth point they're still assuring me that they're looking into it and will get back to me.

Secure remote control for conventional and virtual desktops

More from The Register

next story
Super Cali signs a kill-switch, campaigners say it's atrocious
Remote-death button bad news for crooks, protesters – and great news for hackers?
UK government accused of hiding TRUTH about Universal Credit fiasco
'Reset rating keeps secrets on one-dole-to-rule-them-all plan', say MPs
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ex US cybersecurity czar guilty in child sex abuse website case
Health and Human Services IT security chief headed online to share vile images
Don't even THINK about copyright violation, says Indian state
Pre-emptive arrest for pirates in Karnataka
The police are WRONG: Watching YouTube videos is NOT illegal
And our man Corfield is pretty bloody cross about it
Felony charges? Harsh! Alleged Anon hackers plead guilty to misdemeanours
US judge questions harsh sentence sought by prosecutors
prev story

Whitepapers

A new approach to endpoint data protection
What is the best way to ensure comprehensive visibility, management, and control of information on both company-owned and employee-owned devices?
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.