Posts Tagged ‘economic growth’
Trickle where? economics
The Wall Street Journal reports that a study of 30 nations has found inequality to have increased over the last twenty years. Despite strong economic growth over the 20 years the study was conducted, the middle-income earners are falling behind while the wealthy continue to amass more riches. Bellow are two salient quotes from the article.
“The U.S. has the highest inequality and poverty rates in the OECD (Organization for Economic Cooperation and Development) after Mexico and Turkey, and the gap has increased rapidly since 2000, the report said. France saw inequalities fall as poorer workers are better paid.”
“In the U.S., the richest 10% earn an average of $93,000 — the highest level in the OECD. The poorest 10% earn an average of $5,800 — about 20% lower than the OECD average.”
