Inequality widening in developed countries

In: Uncategorized

21 Oct 2008

Income inequality is widening in most developed country according to a report on Growing Unequal by the Organisation for Economic Cooperation and Development (OECD). According to the press release the report:

“finds that the economic growth of recent decades has benefitted the rich more than the poor. In some countries, such as Canada, Finland, Germany, Italy, Norway and the United States, the gap also increased between the rich and the middle-class.”

Of course a widening of income inequality does not necessarily preclude a rise in absolute living standards for the poor.