A RISING TIDE AND THE WEALTH GAP Finally it seems enough time has - TopicsExpress



          

A RISING TIDE AND THE WEALTH GAP Finally it seems enough time has passed, enough water under the bridge, as it were, to justify taking a second look at what really drives economic growth and development: better lives. There are those who believe growth and prosperity are about cultivating a supply-side approach to industrial production, others believe that growth is endemic and a reflection of an economy of culture. An OECD working paper, Trends in income inequality and its impact on economic growth concludes that increasing income disparity in the twenty years prior to the 2008 meltdown, limited national growth by as much as 6 to 10 percentage points in the United States and the United Kingdom. The report is part of the OECD’s New Approaches to Economic Challenges Initiative, an initiative undertaken under the leadership of Mexican economist and Diplomat, Angel Gurría, Secretary General of the OECD. The OECD research program is intended as an organizational reflection on the roots and lessons to be learned from the global economic crisis. Wow, is that ever good news! For all of us supply-side, Reagan- and Thatcher-nomics refugees, admirers of the social model of community development, dust off your copies of Peter H. Linderts book, Growing Public: Social Spending and Economic Growth and refresh your arguments for how better lives improve economic productivity. oecd.org/newsroom/inequality-hurts-economic-growth.htm
Posted on: Wed, 10 Dec 2014 10:57:16 +0000

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