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More than five years into an economic crisis which has taken on several names–from subprime crisis and financial crisis to great recession–no term accurately depicts the fundamental result of this economic turbulence: people facing hardship.
Brazil’s labour leaders have long argued against pursuing economic growth for its own sake. What matters most, they believe, is not the size of the economic pie but how it’s carved up. In recent years, calls for social justice have increasingly informed policy in Brazil, bringing about a veritable “revolution” in the economy.
The forces driving Asia’s rapid growth–new technology, globalisation, and market-oriented reform–are also fuelling rising inequality. Some income divergence is inevitable in times of fast economic development, but that shouldn’t make for complacency, especially in the face of rising inequality in people’s opportunities to develop their human capital and income-earning capacity.
By helping emphasise the importance of a “better life” as a key component of societal progress, the OECD has made considerable efforts in recent years to help promote a school of thought that places people’s well-being at the heart of economic growth.
Income inequality in Colombia has declined since the early 2000s but remains very high by international standards. While most of the inequality originates from the labour market, wealth – and thus capital income – is also highly concentrated and the tax and transfer system has little redistributive impact.
Income inequality in Colombia has declined since the early 2000s but remains very high by international standards. Income dispersion largely originates from the labour market, which is characterised by a still high unemployment rate, a pervasive informal sector and a wide wage dispersion reflecting a large education premium for those with higher education.
Our economic growth models have not equitably distribute benefits. Inequalities were brewing under the surface prior to 2007 and increased almost everywhere even during periods of sustained economic growth. We need to reverse this trend, said OECD Secretary-General.
This event on the topic of social institutions and the prevention of violence against women and girls is co-hosted by the Finnish Ministry for Foreign Affairs, the South African Ministry of Women, Children and People with Disabilities (DWCPD) and the OECD Development Centre.
Korea should build on its strong economy and well-educated workforce to meet the challenges of a fast-ageing population and to tackle rising income inequality, according to a new OECD report.
Although job creation has improved, since the end of the 2007-08 recession, the effects of the recession on the labour market remain severe.