• “We need to think deeply about what economic development is and who it is for; and, engage the larger society in that conversation.”

    Dr. David T. Barnard
    President and Vice-Chancellor
    University of Manitoba

  • “Rising income inequality undercuts the trust that is essential for the market system to work.”

    Art DeFehr
    President and CEO, Palliser Furniture.

  • “Investing in people in the new economy is now not just morally sound, but economically rational”

    Alan Freeman
    Cultural Economist

  • “Organizations and societies in which the top few appropriate most of the value are like inverted pyramids – inherently unstable”

    Dr. Hari Bapuji
    Associate Professor, University of Manitoba

  • “The present crisis has overturned many accepted truths: that poverty matters but inequality doesn't is one of the more important.”

    Radhika Desai
    Professor, Department of Political Studies, University of Manitoba

  • “The income gap between rich and poor, between skilled and unskilled workers, has been rising in both developed and less developed countries for a number of years. The trend is disturbing and we must find a way to turn this trend around.”

    Michael Benarroch
    Dean, I.H. Asper School of Business, University of Manitoba

Friday, March 15, 2013

Conference Board of Canada Grades Canada’s Inequality

By BEIF Team

The Conference Board of Canada (CBoC) has recently released it’s annual ‘report card’ on Canadian’s quality of life. The report ranks Canada 7th out of 17 other developed countries and gives Canada an overall ‘B’ rating in its ‘Society Report Card’. The CBoC states that the rating is due to Canada’s “high rates of poverty and a large gap in income between the rich and everyone else”, which “put stress on a society and on the economy.”

On the specific issue of income inequality Canada received a ‘C’ rating and was ranked 12th out of 17 other countries. Besides grading countries, the report highlights how inequality has been rising in Canada for the past 20 years. It shows that the richest quintile (top 20%) in Canada receives 39.1% of the total national income, while the poorest quintile (bottom 20%) takes home only 7.3% of total national income.

Source: Conference Board of Canada, How Canada Performs