Advertisement
The OECD has released a new report on inequality today, which revealed that two-fifths of the populations of developed countries have gained little over recent decades, driving rising income and wealth inequality that is damaging economic growth.
The report finds that wealthiest 10% of the population now earns 9.6 times the income of the poorest 10%, and that this ratio is up from 7:1 times in the 1980s, 8:1 in the 1990s and 9:1 in the 2000s.
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.