CUE: Economic Inequality Flashcards

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1
Q

How can economic inequality cause issues?

A
  • political and social unrest -riots, protests
  • crime - drug use, violence
  • health problems
  • it can adversely affect life chances
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2
Q

Why is inequality almost inevitable?

A
  • unequal distribution of wealth
  • generally higher in LICs - they lack resources to support the poorest citizens (and more arrive everyday)
  • the UK is the most divided country in EU
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3
Q

What did the London Fairness commission report in 2015?

A

for every £1 of wealth owned by the bottom 10% of London households, the top 10% own £172.

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4
Q

How do incomes compare in London to any other region in the UK?

A

Incomes in London are more unequal than in any other region – 16% of the population in the poorest 10th Nationally.

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5
Q

How many financial assets does the richest 10% of London have?

A

have 60% of all assets.

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6
Q

How much more does the top 10th of employees earn than the bottom 10th?

A

4.5x more

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7
Q

How do Kensington and Chelsea have the biggest imbalance?

A

the top ¼ earn at least £41 per hour which is 3.5X those of the lowest ¼. Average incomes are £130000 in Kensington and Chelsea compered to £35000 in Newham

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