Economic inequality is growing in the world’s richest countries, particularly in the United States, jeopardizing the American Dream of social mobility just as the world tilts toward recession, a 30-nation report said Tuesday.
… With job losses and home foreclosures skyrocketing and many of these countries now facing recession, policy makers must act quickly to prevent a surge in populist and protectionist sentiment as was seen following the Great Depression, the Paris-based Organization for Economic Cooperation and Development said.
“What will happen if the next decade is not one of world growth but of world recession? If a rising tide didn’t lift all boats, how will they be affected by an ebbing tide?” Oxford University economist Anthony Atkinson said at a conference at the OECD headquarters.
In a 20-year study of its member countries, the OECD found inequality had increased in 27 of its 30 members as top earners incomes soared while others stagnated.
via Business Week: Study shows gap growing between rich and poor