Showing posts with label inequality. Show all posts
Showing posts with label inequality. Show all posts

Wednesday, 10 January 2018

A florid symptom of global economic and social inequality


The wealthiest 1 per cent of the world’s population owned 50.1 per cent of all global household wealth in 2017 – that is they collectively held an est. US$140.28 trillion [Credit Suisse Global Wealth Databook 2017].

The world’s richest 500 people had a collective personal worth in excess of US$5.3 trillion at the end of that year – 3.77 percent of the wealth held by the top 1 per cent.

Bloomberg Billionaires Index as of Dec. 28, 2017:
The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. Details about the calculations are provided in the net worth analysis on each billionaire’s profile page. The figures are updated at the close of every trading day in New York.
Billionaires ranked 14 to 500 with personal wealth ranging from $46.8B to $4.9B can be viewed here.


Australians on 2017 Top 500 Billionaires Index

#85 Gina Rinehart est. current worth $14.9B
#213 Harry Triguboff est. current worth $7.52B
#256 Ivan Glasenberg est. current worth $6.42B
#316 Anthony Pratt est. current worth $5.75B
#346 Frank Lowy est. current worth $5.44B
#480 James Packer est. current worth $4.22B

Friday, 1 December 2017

Australians with lower incomes are dying sooner from potentially preventable diseases than their wealthier counterparts


The Conversation, 28 November 2017:

Australians with lower incomes are dying sooner from potentially preventable diseases than their wealthier counterparts, according to our new report.

Australia’s Health Tracker by Socioeconomic Status, released today, tracks health risk factors, disease and premature death by socioeconomic status. It shows that over the past four years, 49,227 more people on lower incomes have died from chronic diseases – such as diabetes, heart disease and cancer – before the age of 75 than those on higher incomes.

A steady job or being engaged in the community is important to good health. Australia’s unemployment rate is low, but this hides low workforce participation, and a serious problem with underemployment. Casual workers are often not getting enough hours, and more and more Australians are employed on short-term contracts.

There’s a vicious feedback loop – if your health is struggling, it’s harder to build your wealth. If you’re unable to work as much as you want, you can’t build your wealth, so it’s much tougher to improve your health.

Our team tracked health risk factors, disease and premature death by socioeconomic status, which measures people’s access to material and social resources as well as their ability to participate in society. We’ve measured in quintiles – with one fifth of the population in each quintile.

We developed health targets and indicators based on the World Health Organisation’s 2025 targets to improve health around the globe.

The good news is that for many of the indicators, the most advantaged in the community have already reached the targets.

The bad news is that poor health is not just an issue affecting the most vulnerable in our community, it significantly affects the second-lowest quintile as well. Almost ten million Australians with low incomes have much greater risks of developing preventable chronic diseases, and of dying from these earlier than other Australians.


Read the rest of the article here.