Growing Out of Inequality
Income inequality has been increasing in most major economies – and in many of them, it has been increasing significantly. But the typical approach to tackling the problem – redistributive tax-and-transfer fiscal policies – can be controversial and divisive, owing to perceived tradeoffs between economic growth and greater equality.
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WASHINGTON, DC – Income inequality has been increasing in most major economies – and in many of them, it has been increasing significantly. This is a cause for growing concern, and rightly so: inequality not only can undermine an economy’s long-term growth prospects; it can restrain growth in the short term by depressing aggregate demand.