Saturday, March 6, 2010

Is Income Equality the Killer App?

Why More Equality?

Our thirty years research shows that:

1) In rich countries, a smaller gap between rich and poor means a happier, healthier, and more successful population. Just look at the US, the UK, Portugal, and New Zealand in the top right of this graph, doing much worse than Japan, Sweden or Norway in the bottom left.

2) Meanwhile, more economic growth will NOT lead to a happier, healthier, or more successful population. In fact, there is no relation between income per head and social well-being in rich countries.

3) If the UK were more equal, we'd be better off as a population. For example, the evidence suggests that if we halved inequality here:

- Murder rates would halve
- Mental illness would reduce by two thirds
- Obesity would halve
- Imprisonment would reduce by 80%
- Teen births would reduce by 80%
- Levels of trust would increase by 85%

4) It's not just poor people who do better. The evidence suggests people all the way up would benefit, although it's true that the poorest would gain the most.

5) These findings hold true, whether you look across developed nations, or across the 50 states of the USA.

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