The growing income share of the richest 1% is top of mind for many academics and public policymakers. Looking at wealth as a measure of inequality, however, provides a view of the broad economic resources beyond income available to an individual or family.
Income is the amount of money an individual or family earns each year, whereas wealth represents net worth: the total value of assets minus debts.
Looking at this broad picture of wealth using new Statistics Canada data released to the Broadbent Institute, this report shows deep and persistent inequality. This unequal distribution – particularly for the wealthiest and poorest 10% segments of the population – challenges the narrative that suggests Canadians are getting wealthier across the board.
‘Haves and Have-Nots: Deep and Persistent Wealth Inequality in Canada’ is licensed under CC BY-NC 4.0
