Income Inequality Archive

Kenya’s largest trade union federation hailed an executive order issued earlier this month by President Uhuru Kenyatta that increased the monthly minimum wage by 12 percent. The Central Organization of Trade Unions called the directive “a great win for Kenyans” during a period of economic hardship brought about by the coronavirus pandemic, high inflation and a rise in fuel prices. Kenyatta made the announcement during a Labor Day celebration on May 1, saying that higher wages would cushion workers against the erosion of their purchasing power and enhance Kenya’s economic productivity. He further described the increase as “an appreciation to workers for […]

It’s a widely acknowledged truth that when the United States’ economy sneezes, many countries catch a cold. And so it is with this week’s interest rate hike by the Federal Reserve in Washington, whose efforts to contain inflation in the U.S. are sure to create new problems for already battered economies and families in less affluent countries. The move will unintentionally pile onto the multiple, interconnected crises and growing challenges already facing developing countries. As I noted a few weeks ago, Russia’s war on Ukraine is sending economic, and therefore political, shockwaves across the planet, from Peru to Sri Lanka. Now comes the […]