Monday, June 1, 2020

Economic Suffocation

The US has one of the highest GINI coefficients amongst the OECD nations, ie income distribution is highly unequal, on a par with Turkey, Bulgaria, etc.  

GINI Coefficient In OECD Nations

The COVID19 crisis has thrown millions out of work - continued unemployment claims are at an unprecedented 21.5 million. Economic  insecurity rules the day.


Continued Claims For Unemployment Benefits

It is no wonder, then, that last week’s police violence incident has spilled over into rage, riots and looting.  I don’t think these are “mere” racial riots;  rather, they are angry responses to a simmering situation that is currently boiling over because of the lockdowns and their effect on the economy.

2 comments:

  1. Which is the Republic with the lowest Gini number on the chart?

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