The job of holding up a mirror to the world can be a frustrating one. When the news is persistently bad, when the mirror highlights more wrinkles than we want to face up to, it is easy enough to find excuses— we are about to turn the corner, there is no other way to go, efficiency demands this, think of all the other good things that are happening, and the evergreen favorite, the data is wrong.
Chasing down each of these narratives and slaying them takes stubbornness and hard work. Over the last twenty-five years, Thomas Piketty has been leading this fight, first by himself, then with Emmanuel Saez, Facundo Alvaredo, and the late Sir Tony Atkinson and, increasingly, with a growing team of collaborators, culminating in the World Inequality Lab.
Reliable inequality data as a global public good
"We live in a data-abundant world and yet we lack basic information about inequality. Economic growth numbers are published every year by governments across the globe, but they do not tell us about how growth is distributed across the population – about who gains and who loses from economic policies..."
Contemporary income and wealth inequalities are very large
"An average adult individual earns PPP €16,700 (PPP USD23,380) per year in 2021, and the average adult owns €72,900 (USD102,600).1 These averages mask wide disparities both between and within countries. The richest 10% of the global population currently takes 52% of global income, whereas the poorest half of the population earns..."
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