PARIS (AP) — Economic inequality is growing in the world’s richest countries, particularly in the United States, jeopardizing the American Dream of social mobility just as the world tilts toward recession, a 30-nation report said Tuesday. The gap between rich and poor has widened over the last 20 years in nearly all the countries studied, even as trade and technological advances have spurred rapid growth in their economies. With job losses and home foreclosures skyrocketing and many of these countries now facing recession, policy makers must act quickly to prevent a surge in populist and protectionist sentiment as was seen following the Great Depression, the Paris-based Organization for Economic Cooperation and Development said.—-Contact The Daily Reveille’s news staff at [email protected]
Study shows gap is still growing between rich and poor
By The Associated Press
October 21, 2008