The Vicious Circle Of Inequality

Low productivity growth is, of course, one reason why income development has been disappointing for an average worker, but not the only one. Another is increased wage disparities and decreased income share, since wages haven´t kept up with even the poor productivity growth. And finally, public redistribution has been significantly reduced through tax cuts for the wealthy and lower social transfers for the rest. All these trends are, in various degrees, common to both Europe and the rest of the industrialized world. The result is the famous and depressing Elephant curve of Branco Milanovic.

via The Vicious Circle Of Inequality

Both comments and trackbacks are currently closed.
%d bloggers like this: