10/02/14

Permalink ‘Enormous increase’ in global inequality: OECD

The sharp rise in income inequality across the world is one of the most worrying developments of the past 200 years, the Organisation for Economic Co-operation and Development (OECD), said on Thursday. In a flagship report tracking wellbeing in eight world regions over two centuries, the OECD noted that personal incomes had diverged in the last 30 years as GDP (gross domestic product) per head had risen. "It is hard not to notice the sharp increase in income inequality experienced by the vast majority of countries from the 1980s. There are very few exceptions to this," said OECD economists in the report. Income inequality, as measured by pre-tax household income across individuals within a country, declined in most Western countries from the end of the 19th century until about 1970, when it began to rise.

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