Income inequality negates justice
Kathmandu, November 3:
Injustice in society is created if there is unequal income between individuals in terms of money, health, public good and labour.
Institutions in the world which are not able to give justice to people need to be demolished as they create inequality between individuals and the gap between the rich and the poor goes up, economists say.
Dr Nicolas Gravel, a French economist who is here in the capital to discuss about income inequalities in various societies, explored various tools to measure income of individuals in US, Australia, UK, Italy, India, Nepal, Sweden and Germany. Gravel presented his findings on the comparision of income by people of above mentioned countries. He also gave some examples on the distribution of disposable income in some OECD countries.
Dr Gravel was presenting his paper at a programme organised by the Nepal France Chamber of Commerce and Industry (NFCCI) and Alliance Francaise.
While measuring income levels of people, he found that Americans have a larger disposable income than any other economies in countries under his survey. The income of individuals differs country-wise, depending upon the way they share their ‘cake’, Dr Gravel argued.
He mentioned various ways to measure justice, happiness, income, and poverty and welfare. According to him, he has made special efforts in making comparisons between multidimensional inequalities across main OECD countries and by appraising the impact of the last fifteen years of liberalisation experience in India on the distribution of both income and access to basic public services.
While comparing income inequality, he has found that income inequality in Nepal is huge compared to India. He has compared it in relation to other countries too. Bruce F Henderson, CEO of Rastriya Banijya Bank (RBB), commented that ‘opportunity’ is one of the major
components to be included while measuring income of people as there exists tremendous opportunities for outsourcing and other ways of generating income.