[EQ] Divided We Stand: Why Inequality Keeps Rising

Divided We Stand: Why Inequality Keeps Rising

Organisation for Economic Co-operation and Development (OECD) 2012

Website: http://bit.ly/N2aE0n

“…….The gap between rich and poor in OECD countries has reached its highest level for over over 30 years, and governments must act quickly to tackle inequality, according to this OECD report.

The report notes that the average income of the richest 10% is now about nine times that of the poorest 10 % across the OECD. The income gap has risen even in traditionally egalitarian countries, such as Germany, Denmark and Sweden, from 5 to 1 in the 1980s to 6 to 1 today. The gap is 10 to 1 in Italy, Japan, Korea and the United Kingdom, and higher still, at 14 to 1 in Israel, Turkey and the United States.

In Chile and Mexico, the incomes of the richest are still more than 25 times those of the poorest, the highest in the OECD, but have finally started dropping. Income inequality is much higher in some major emerging economies outside the OECD area. At 50 to 1, Brazil's income gap remains much higher than in many other countries, although it has been falling significantly over the past decade.

 “…….Globalisation and technological changes offer opportunities but also raise challenges that can be tackled with effective and well-targeted policies. Any policy strategy to reduce the growing divide between rich and poor should rest on three main pillars: more intensive human capital investment; inclusive employment promotion; and well-designed tax/transfer redistribution policies…..”

This report analyses the major underlying forces behind these developments:

Content:

- An Overview of Growing Income Inequalities in OECD Countries

- Special Focus: Inequality in Emerging Economies

- Part I. How Globalisation, Technological Change and Policies Affect Wage and Earnings Inequalities

- Part II. How Inequalities in Labour Earnings Lead to Inequalities in Household Disposable Income

- Part III. How the Roles of Tax and Transfer Systems Have Changed

KMC/2012/SDE
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