John Rentoul wrote a piece yesterday saying that inequality hasn’t increased in recent years. He doesthatevery so often. Using a chart from yesterday’s ONS report on Wealth in Great Britain, he showed that the Gini coefficient for total wealth has not moved since before the recession.
But Declan Gaffney spotted this, in the same report:
In 2010/12 the wealthiest 20% of households had 105 times more aggregate total wealth than the least wealthy 20% of households. In comparison, the wealthiest 20% of households had 92 times more aggregate total wealth than the least wealthy 20% of households in 2008/10.
If the top 20% have a higher multiple of wealth compared to the bottom 20% than they did four years ago, doesn’t that mean that inequality has increased?
A similar question applies to incomes. John Rentoul is right that there has been very little change in the UK’s Gini coefficient since the…
View original post 1,005 more words
sdbast 