August 23, 2007
The Poor Subsidizing the Rich
Mr. Finkelstein (pbuh):
Up to a million people on income support will be eligible for half fares on London's buses under Ken Livingstone's oil deal with Hugo Chávez, Venezuela's president.
Caracas, Venezuela - where despite Chavez's "revolution for the poor" the Gini coefficient has increased from 0.44 in 2000 to 0.48 in 2005.
The Gini coefficient is a measure of income inequality.
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Tracked on Aug 23, 2007 1:32:02 PM
The comments suggest that these figures might not be accurate, but also, isn't that gini coefficient before transfers and poverty-alleviation programmes, which you continually remind us MUST be included in these types of arguments or the numbers are misleading?
Tim adds: Wouldn't have thought that's before transfers (although obviously willing to be corrected) as the UK on before such is over 0.6....
Posted by: Matthew | Aug 23, 2007 10:37:21 AM
The Economist noted last week that the effect of Chavez's policies may not match his rhetoric.
Posted by: JH | Aug 23, 2007 1:00:11 PM