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The grand final of the #UBSCenterForum starts in a few minutes at 6pm CET. @NobelPrize laureate @DeatonAngus will share his thoughts on #inequality and the future of #capitalism. Don't miss the live stream and this thread for some reflections 🧵
#EconTwitter #EconomicsForSociety
#EconTwitter #EconomicsForSociety
The super-rich in the US are usually 'makers' whose innovations benefited many--but may also harm many if the 'makers' become 'takers'
Deaton's view 👇
#UBSCenterForum
Deaton's view 👇
#UBSCenterForum
Democratic capitalism is under threat. Is it worth fixing? What needs to be done to tackle inequalities? And the ultimate question these days: How is COVID reinforcing existing and creating new inequalities?
⏳Stay tuned – only 25 minutes to go for the livestream @DeatonAngus 👇🏻
⏳Stay tuned – only 25 minutes to go for the livestream @DeatonAngus 👇🏻
Why is inequality a problem in modern capitalism? @DeatonAngus presents historical data on income inequality: We see little change post 2008. Also, capitalism has brought great prosperity. So what is wrong? We should not only look at income inequality...
Talking about wealth which is much more unequal than income because differences in income persist and accumulate over time. But, many of the superrich benefited many, but may also be hurting many...
When does inequality become a problem? What has capitalism to do with it, and what can be done to create a fairer world?
Looking forward to able to learn from Nobel laureate Angus Deaton about these questions (link to livestream below 👇).
Looking forward to able to learn from Nobel laureate Angus Deaton about these questions (link to livestream below 👇).
.@DeatonAngus begins this year's keynote lecture of the #UBSCenterForum by highlighting the political debate in the US centering around inequality - "the defining challenge of our time" (@BarackObama)
Angus Deaton contrasts this with a timeline of the Gini coefficient, that strikingly did not rise after 2008 when the political debate about inequality began to get heated in the USA.
Third part of the 2020 virtual #UBSCenterForum on inequality: @Florian_Scheuer gives a webinar on the taxation of the superrich 🧵
#EconomicsForSociety #EconTwitter @econ_uzh
#EconomicsForSociety #EconTwitter @econ_uzh
How to define the superrich? Wealth is a better indicator than income because it is less volatile.
#EconomicsForSociety #UBSCenterForum
#EconomicsForSociety #UBSCenterForum
Looking forward to the webinar by @Florian_Scheuer
at the #UBSCenterForum today at 4pm (link ). Some insights about his research on the topical issue of the taxation of the superrich are also highlighted in this thread by @SamuelSkoda 👇 .
at the #UBSCenterForum today at 4pm (link ). Some insights about his research on the topical issue of the taxation of the superrich are also highlighted in this thread by @SamuelSkoda 👇 .
Interesting fact on income inequality differences between Switzerland and the US: While in the US, the top 1% has increased its share of pre-tax national income from 12 to 20% (largely at the expense of the bottom 50%), the top share is more modest in Switzerland with 13%.
Wealth inequality, on the other hand, is relatively high in Switzerland. The share of the top 1% almost reaches 40% of total wealth.
Many wonder what will happen if Trump is reelected. But what happens if Biden wins the race? Will he implement his tax reform and make the superrich pay more? And if so, would this help fight inequality? Let's hear tax expert @Florian_Scheuer thoughts on this in today's webinar👇🏻
The Webinar has started. Ernst Fehr: "The discussion about inequalities and taxes is even more important in face of the ongoing Covid-19 pandemic - which creates new inequalities.
#EconTwitter #TaxTheRich #EconomicsForSociety @ubscenter
#EconTwitter #TaxTheRich #EconomicsForSociety @ubscenter
The top 1% of households ranked
by income in the U.S. earned about 12%
of total income in the early 1980s, but this
share has recently doubled to almost 25%.
@Florian_Scheuer @ubscenter @cepr_org
@UZH_en
by income in the U.S. earned about 12%
of total income in the early 1980s, but this
share has recently doubled to almost 25%.
@Florian_Scheuer @ubscenter @cepr_org
@UZH_en
In a few minutes, this year's virtual #UBSCenterForum continues with a panel discussion on #inequality . As last week, here I will share some of the main insights and my thoughts on it. 🧵
#EconomicsForSociety #EconTwitter
#EconomicsForSociety #EconTwitter
To kick off the discussion, @BrankoMilan talks about the development of inequality over time. Inequality between countries peaked in the early 2000s, declining in the last 20 years due to the rise of Asia (though still at a high level).
#UBSCenterForum
#UBSCenterForum
Currie and Dorn report from their respective research that both health inequality (measured by mortality rates) and income inequality are more pronounced in the US than in Europe (France/Switzerland). Can these differences be explained by in the different political systems?
Looking forward to this livestream of the #UBSCenterForum this afternoon to learn more about recent trends in income and health inequality and their ultimate causes
.@jmackin2 begins the panel discussion by highlighting the different dimensions in which the covid pandemic affects inequality. The effect on income inequality is not obvious, but, by and large, low income (service) jobs are more affected than white collar jobs
.@BrankoMilan focuses on global inequality from a long-run perspective in his intro statement. He distinguishes between and within country inequality. In the so-called third period, the rise of Asia leads to a decrease in global inequality.
Going to take some notes of my learnings from this year's #UBSCenterForum Research Slam in this thread:
.@SiljaHausermann investigates the causes of voting for radical parties. Voters are forward-looking and care about their future economic opportunities. Confident voters vote for mainstream parties, less confident "apprehensive" voters are vulnerable to radical parties.
.@Florian_Scheuer shows that for the top incomes, capital gains become an increasingly import source of income. Capital gains have tax benefits (especially if they are not realized during an individual's lifetime). This results in a regressive system that favors the rich.
