Economic Inequality
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World’s five richest men doubled their wealth since 2020, says Oxfam report
The organisation noted that India, in particular, faces ‘rising industrial concentration’, especially in the hands of the country’s top five firms.
Scroll Staff
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Sri Lanka is proof that governments use IMF bailouts to hurt political opponents
In a number of countries IMF loan conditions appear to be mainly burdening supporters of the opposition.
M Rodwan Abouharb, The Conversation & Bernhard Reinsberg, The Conversation
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How baby bond schemes are helping combat racial economic inequalities in the US
The programmes ensure that poorer children start out their adult lives with a nest egg.
Carey L Biron, Thomson Reuters Foundation
Trending
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Seven firms that failed drug quality test gave money to political parties through electoral bonds
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Why the exodus from Bhutan of young people and qualified workers is a worry for India
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Why did a Union minister say he would apply for Indian citizenship under CAA?
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Electoral bonds: What we know so far, what we will know soon – and what we may never know
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India’s latest GDP growth numbers are ‘mystifying’, says former chief economic advisor
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Why inequality is growing around the world
Globally, the richest 10% possess nearly 76% of the world’s wealth. Meanwhile, the bottom 50% own just 2%.
Fatema Z. Sumar, The Conversation
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As the wealthy converge on Davos to discuss the world’s problems, a case for taxing the rich
Harsh Mander and Prabhat Patnaik discuss funding universal social and economic rights, not just a universal basic income, in a time of widening inequalities.
Harsh Mander
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Covid-19 pandemic created a new billionaire every 30 hours, says Oxfam
Meanwhile, the non-profit organisation said it expects 263 million people to fall into extreme poverty this year.
Scroll Staff
Video
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Caught on camera: Container ship hits and knocks down gantry cranes while docking at a Turkey port
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Watch: Temple in Kochi gets a mechanical elephant to perform prayer rituals
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Watch: Srinagar hosts Formula 4 car show on the roads around Dal Lake
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Watch: Scenes of damage after four coaches of a Sabarmati-Agra train were derailed in Ajmer
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Adorable animals: Playful elephant calf keeps stopping cleaner from raking leaves
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What do Indians want from the Budget? A ‘Covid surcharge’ on those who profited from the pandemic
More than 80% of the respondents in a survey supported the idea of taxing the ultra-rich.
Ananya Bhattacharya, qz.com
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Interview with Oxfam India CEO: With India’s inequality exploding, it can’t be business as usual
In the past two years, over 15 crore Indians slid into poverty, while the number of billionaires in the country grew.
Govindraj Ethiraj, IndiaSpend.com
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Income of 84% Indian households fell in 2021 while 40 new billionaires emerged: Oxfam report
The non-profit group said that while the wealth of Indian billionaires rose by Rs 30 lakh crore during pandemic, over 4.6 crore people fell to extreme poverty.
Scroll Staff
The Reel
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‘Adrishyam’ trailer: Eijaz Khan and Divyanka Tripathi Dahiya play undercover agents
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Prithviraj Sukumaran on what makes ‘The Goat Life’ special: ‘A deeply meditative character study’
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Start the week with a film: A riveting game of mind control in ‘The Manchurian Candidate’
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‘Crew’ trailer: Tabu, Kareena Kapoor Khan and Kriti Sanon play stewardesses involved in smuggling
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‘I wanted to land this film correctly’: Why actor Kunal Kemmu chose to direct ‘Madgaon Express’
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India is among the most unequal countries, says World Inequality Report
In 2021, the top 1% of India’s population earned 21.7% of the total national income, while the bottom 50% made just 13.1%.
Scroll Staff
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What Latin America’s inequality and political instability can teach the rest of the world
A large income gap between the poor and the wealthy has contributed to persistent political volatility and social discontent.
Diego Sánchez-Ancochea, The Conversation
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Indian billionaires got richer by Rs 12 lakh crore since March as lakhs lost jobs amid Covid: Oxfam
It would take an unskilled worker 10,000 years to make what Mukesh Ambani earned in an hour during the pandemic, a report by the charity said.
Scroll Staff
The Field
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Commonwealth Games: Malaysia to consider hosting a downsized edition in 2026; Singapore also in fray
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WPL 2024: From captain Meg Lanning to rising star Shreyanka Patil – The Field’s team of the season
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Wrestling: IOA dissolves ad-hoc committee; elected body to take charge of national federation
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Hockey: Harmanpreet Singh to lead 27-member Indian squad for Australia tour
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IWL 2023-24: Odisha FC inch closer to title with win over East Bengal