Monthly Archives: November 2012

Mandate for Obama’s second term: Reduce inequality to get growth going!

Published on Oxfam America’s Politics of Poverty blog

Economic growth—the kind America enjoyed during its longest decades of prosperity —does not happen in countries with chronic income inequality.

As the President works to put the American economy back on track in his second term, I think the mandate of the election is clear, if Obama will listen.

Among developed countries, the United States has the highest levels of inequality. This is an unsettling trend that has worsened over the past three decades. As we know, chronic inequality is bad for growth and threatens macroeconomic stability. Societies with high income inequality also suffer from greater health and social ills (including crime, sickness, violence, shorter life spans, & stress) than more equal ones. Continue reading

Fighting poverty means solving the inequality problem

Published on Oxfam America’s Politics of Poverty blog

Last week, the World Bank released a new report assessing declining income inequality over the 2000s in Argentina, Brazil, and Mexico. Each country experienced significant reductions in inequality over the last decade. This finding is not new, but the authors helpfully tease out some nuance behind the trend. Their findings suggest two factors drove the […] Continue reading