Econ Comments & Analysis
Bloomberg Businessweek | Why Raising Taxes Won't Fix Global Inequality
Last week, the Organization for Economic Cooperation and Development issued areport on inequality and economic growth. The OECD, based in Paris, is the official think tank for rich countries. Its analysis concluded that the income gap between the poor and the middle class contributes to declining economic growth. The United Kingdom and the United States lost 6 percentage points to 9 percentage points of gross domestic product growth over the last two decades because of rising inequality, the report suggested.
