Pretending that wealth inequality does not exist is a useful strategy for TPP supporters. The truth is that skyrocketing income inequality will only worsen if trade pacts such as the Trans Pacific Partnership are adopted as planned.
The study concludes, in the words of the screaming press release, that there is ‘No income inequality crisis in Canada when it’s properly measured.’ That is the wrong inference to be making. What the study is missing is a coherent understanding of the link the different measures it so accurately calculates. As a result it misses important policy lessons.
Since 2005, Canada’s richest 10% have seen their median net worth rise by 41.9%, while the bottom 10% simultaneously saw a 150% drop.