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OECD report says record inequality hurting rich nations' development

2015-05-21 17 Dailymotion

An OECD study says inequality between the rich and poor in most of the world’s advanced economies is at a record high.<br /><br /> The report also found huge differences in incomes between men and women.<br /><br /> On average in the OECD’s 34 countries the richest 10% of the population earns nearly 10 times the income of the poorest 10%. In the 1980s the ratio was 7 to 1.<br /><br /> The report found inequality to be highest in Chile, Mexico, Turkey, the United States and Israel among OECD countries.<br /><br /> It was lowest in Denmark, Slovenia, Slovak Republic and Norway.<br /><br /> Wealth differences are even more pronounced. The top 1% owns 18% of everything, while the bottom 40% only accounts for 3% of household wealth. <br /><br /> “Inequality in OECD countries is at its highest since records began,” said OECD Secretary-General Angel Gurria. “By not addressing <br />inequality, governments are cutting into the social fabric of their countries and hurting their long-term economic growth,” he added.<br /><br /> An increase in part-time and temporary wo

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