Income Inequality Is Hurting The Economy, 3 Dozen Economists Say – Huffington Post

This is an important story reported in the Huffington Post. It’s a RECOMMENDED READ, in my view. Check it out!

via Income Inequality Is Hurting The Economy, 3 Dozen Economists Say.

According to President Obama income inequality is America’s No. 1 issue. However, inequality is increased on his watch.

It’s interest to reflect on increasing income inequality in the UK. Inequality has increased significantly on David Cameron‘s watch. The wealthy have come out of the 2008 financial crash the strongest, with the lower and middle classes still suffering enormous economic and social damage.

Strangely, UK growth is consumer led, on the back of government guarantees for home loans. Also consumer credit is growing strongly again. Meanwhile, the public sector and the business sector has seen capital investment for 2013 plummet. I fear that the UK recovery is still not sufficiently broadly based. BUT more importantly, on the back of austerity UK income inequality will continue to increase.

Any thoughts?

English: Income inequality in the United State...

English: Income inequality in the United States, 1979-2007 (Photo credit: Wikipedia)

 

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3 responses

  1. Such an important issue. If people have no money to spend the economy dies. Inequality is not only offensive it is stupid. But then maybe all this is deliberate if a two tier society is the real goal.

    • I forgot to add that, in the case of Britain, it may be EU policy to scrap us as a nation state in which case a poor economy would help achieve this.

  2. Pingback: Workers’ skills and how they are used at work – OECD « Dr Alf's Blog

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