This is a really interesting article from Bloomberg. Check it out!
I have enormous respect for Nobel Prize winning economist, Joe Stiglitz. Income inequality is one of Western Society‘s hottest issues right now. Stiglitz wins the award for his evidence-based research into income inequality.
Sadly, we seem to be living in an age where policy-makers in Washington, London and Berlin have ignored evidence-based policy in favor of short-term political goals. This is particularly the case with policies of excessive austerity which have been challenged by most mainstream economists, including the IMF.