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The 1 Percent Club’s Misguided Protectors
Sunday, December 18th, 2011
Dec. 10, 2011
Some inequality may be necessary to encourage investment for growth. But as recent research shows, intense inequality actually stunts growth, making it more difficult for countries to sustain the sort of long economic expansions that have characterized the more prosperous nations of the world… Extreme inequality blocks opportunity for the poor. It can breed resentment and political instability — discouraging investment — and lead to political polarization and gridlock, splitting the political system into haves and have-nots. And it can make it harder for governments to address economic imbalances and brewing crises.
Tags: budget, economy, featured, poverty, standard of living, tax
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