which communities owned the large properties of Russian economy?
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on the outskirts of the city, close to the area where many in Russia’s political and business elite live, in large mansions screened from the road by high, forest-green fencing.
“You see them going past every day in their motorcades, and it just seems like a different world,” Oksana says. Often, she is delayed as she drives to her secretarial job, as the road is closed for government officials to speed past with police escorts. “I was never that interested in politics before, but seeing just how unfair it is, it does make you wonder if you should be doing something to change it.”
Measuring levels of inequality, rather than simply tracking absolute poverty levels, has become a watchword for economists of late, with some believing it is the uneven distribution of wealth that is one of the key factors driving political discontent and disenfranchisement globally.
At the World Economic Forum in Davos in January, the head of the International Monetary Fund, Christine Lagarde, said increased inequality was one of a number of factors leading to the rise of populism around the world – adding she had first warned of these dangers four years ago, but that after the victory of Donald Trump in the US and the increasing popularity of far-right parties across Europe, she hoped people would now pay it more attention.
Inequality streets: 1% of the Russian population is said to hold 46% of all the country’s personal bank deposits. Photograph: Balhash/Getty Images
A recent report by Credit Suisse showed that Russia is the most unequal of all the world’s major economies. The richest 10% of Russians own 87% of all the country’s wealth, according to the report, compared with 76% in the US and 66% in China. According to another measure, by VTB Capital, 1% of the Russian population holds 46% of all the personal bank deposits in the country.
“You see them going past every day in their motorcades, and it just seems like a different world,” Oksana says. Often, she is delayed as she drives to her secretarial job, as the road is closed for government officials to speed past with police escorts. “I was never that interested in politics before, but seeing just how unfair it is, it does make you wonder if you should be doing something to change it.”
Measuring levels of inequality, rather than simply tracking absolute poverty levels, has become a watchword for economists of late, with some believing it is the uneven distribution of wealth that is one of the key factors driving political discontent and disenfranchisement globally.
At the World Economic Forum in Davos in January, the head of the International Monetary Fund, Christine Lagarde, said increased inequality was one of a number of factors leading to the rise of populism around the world – adding she had first warned of these dangers four years ago, but that after the victory of Donald Trump in the US and the increasing popularity of far-right parties across Europe, she hoped people would now pay it more attention.
Inequality streets: 1% of the Russian population is said to hold 46% of all the country’s personal bank deposits. Photograph: Balhash/Getty Images
A recent report by Credit Suisse showed that Russia is the most unequal of all the world’s major economies. The richest 10% of Russians own 87% of all the country’s wealth, according to the report, compared with 76% in the US and 66% in China. According to another measure, by VTB Capital, 1% of the Russian population holds 46% of all the personal bank deposits in the country.
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