Thursday , November 21 2024
Home / Mike Norman Economics / Pedro Nicolaci da Costa — Inequality is getting so bad it’s threatening the very foundation of economic growth

Pedro Nicolaci da Costa — Inequality is getting so bad it’s threatening the very foundation of economic growth

Summary:
Income inequality has been rising so rapidly in the United States and around the world that it threatens to make economic growth less durable, according to research from the International Monetary Fund. "While strong economic growth is necessary for economic development, it is not always sufficient," four IMF economists write in a new blog. "Inequality has risen in several advanced economies and remains stubbornly high in many that are still developing," they added. "This worries policymakers everywhere for good reason. Research at the IMF and elsewhere makes it clear that persistent lack of inclusion—defined as broadly shared benefits and opportunities for economic growth—can fray social cohesion and undermine the sustainability of growth itself." That's because growth that excludes

Topics:
Mike Norman considers the following as important: , , , , , ,

This could be interesting, too:

Peter Radford writes AJR, Nobel, and prompt engineering

Asad Zaman writes Escaping the jungle: Rethinking land ownership for a sustainable Future

Lars Pålsson Syll writes In praise of pluralism

Frances Coppola writes Why the Tories’ “put people to work” growth strategy has failed

Income inequality has been rising so rapidly in the United States and around the world that it threatens to make economic growth less durable, according to research from the International Monetary Fund.
"While strong economic growth is necessary for economic development, it is not always sufficient," four IMF economists write in a new blog.
"Inequality has risen in several advanced economies and remains stubbornly high in many that are still developing," they added.
"This worries policymakers everywhere for good reason. Research at the IMF and elsewhere makes it clear that persistent lack of inclusion—defined as broadly shared benefits and opportunities for economic growth—can fray social cohesion and undermine the sustainability of growth itself."
That's because growth that excludes large portions of the population reinforces inequality in a variety of ways, like access to education, technology, resources and even social connections that help individuals land jobs and remain relevant in the labor market....
Business Insider
Inequality is getting so bad it's threatening the very foundation of economic growth
Pedro Nicolaci da Costa
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *