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Inequality surges in world’s richest countries, esp. in times of crisis — RT News


According to the new data, the gap between the rich and the poor in most of its 34 members has been getting wider since the crisis started at a higher pace than it did before. Inequality grew more over the three years between 2007 and 2010 than it did over the 12 years before that.

Among OECD countries, it appears that “the top 10 percent has done better than the poorest 10 percent in 21 countries,” with the widest gaps seen in the United States, Turkey, Chile and Mexico. In the three years described above, their income status had been continuously plunging by 2 per cent every year.

A majority of the countries experiencing the harshest rise of inequality were in Europe, where tough EU austerity policies took hold. Italy and Spain were hit worst. However, a 5 per cent decrease was seen annually in Iceland, Ireland, Estonia and impoverished Greece – which still remains on the verge of economic collapse. via — RT News

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