It’s shocking to see such childish and idiotic financial “analysis” being produced by as lofty a source of financial information as the Financial Times of London.
Writing on the FT’s “Beyond BRICS” blog, Rob Minto claims “Russia is not as unequal as you think” based on a report he read (but does not even take the time to link to, really shabby stuff) from Russian stock brokerage house Renaissance Capital.
RC used Gini coefficient analysis to produce a chart that, apparently, Minto did not even take the time to read. The chart plots the positions of 22 different countries based on per capita income and Gini rating for economic inequality.
Apparently they haven’t learned to count yet over at the FT, because only five countries out of the total group show more economic inequality than Russia (South Africa, Brazil, Chile, Mexico and Argentina). That’s right, sixteen of the 22 countries showed less economic in equality. Russia stood in the bottom quartile of the group, yet Minto, a braying jackass if ever there was one, thinks this proves Russia isn’t that unequal after all.
And that’s only the first gaping flaw in Minto’s analysis.