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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.

And while the people of Venezuela are giving foreign aid to Londoners, I noted this on iPienso (via Marginal Revolution):

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.

Interesting, no?

August 23, 2007 in Make Poverty History | Permalink


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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