Income inequality

Income inequality hinders economic growth, but astonishingly, it is the disparity at the lower end of the distribution that is the problem, not high incomes. Hence, we need to do more to lift people out of absolute poverty, instead of obsessing about relative poverty. Measures to attack the super-rich (such as progressive taxation) not only fail and are counter-productive, but divert attention from the real problem, not comparative poverty but absolute destitution.

Addressing inequality key to economic growth, says OECD

CLOSING the gap between rich and poor boosts economic growth, according to new analysis from the OECD.

theaustralian.com.au