Tuesday, December 09, 2014

Tuesday Morning Links

This and that for your Tuesday reading.

- The OECD reports on the relationship between equality and growth, and concludes that rising inequality is as toxic for economic development as it is for our social fabric. And David Rider discusses how increasing inequality is manifesting itself in several Toronto neighbourhoods.

- Meanwhile, Daniel Tancer finds finds that Canada' workers receive a significantly lower share of income than in other developed countries:
Our modern economy is anything but egalitarian, and labour’s share of income has been shrinking for decades as business profits soar while wages stagnate.

On this measure, Canada is actually more unequal than the U.S.

According to the ILO's global wage report, released last week, Americans — by a small margin — take home more of the country’s national income than Canadians do.

Labour’s share of income in the U.S. was 56.4 per cent in 2013, compared to 56 per cent for Canada.

A small difference, but unexpected, given that most other measures (such as income distribution) show Canada is considerably more equal than the U.S. when it comes to wealth.

In fact Canadian labour's share of income is among the lowest of the developed G20 countries, with only Italian and Australian workers taking home a smaller share of the income pie.
labor share of income
Most developed countries have been seeing that number slide for years. The ILO’s chart going back to 1991 shows all of the developed G20 economies seeing labour’s share of the income pie shrinking over the years.
- But unfortunately, the trend is instead toward workers' efforts instead being siphoned off to further enrich our corporate overlords - as in the case of pension funds which are being handed over to the financial sector with no accountability whatsoever.

- Mike De Souza exposes the Cons' failure to bother hiring staff to ensure rail safety.

- Finally, Shawn McCarthy reports on Environment Canada's conclusion that Canada will miss by far even the new and modest targets set by the Cons after they took power. And Isaac Tamblyn proposes that it's time to start ignoring climate change deniers in making policy - though removing them from far too many seats of government would seem to be a necessary first step.

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