Lecture notes 02 - Gap between rich and poor narrows, but...

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Gap between rich and poor  narrows, but UK is still one of the  world's most unequal countries • Britain tops rich nations for closing wealth divide • OECD says disparity still 20% greater than in 1985 Robert Booth     The Guardian     Wednesday October 22 2008   larger  |  smaller The gap between rich and poor in Britain narrowed "remarkably" between 2000  and 2005 but the country remained one of the most unequal in the developed  world, the Organisation for Economic Cooperation and Development said  yesterday. The UK's growth in wealth equality has been the fastest among the world's 30  richest and most developed countries. But in 2005, when the organisation  compiled its latest data, the UK remained a more unequal society than three- quarters of OECD countries, with the richest 10% earning nine times more than  the poorest 10%. Income inequality in the UK grew steadily from the mid-1970s and only dipped  briefly in the mid-1990s, the OECD said. "We found it starts narrowing from the year 2000," said Mark Pearson, the head of  the OECD's social policy division. "It is really quite a remarkable reduction since  then - the largest fall in all developed countries, at a time when inequality has  been rising in most developed countries." But in 2005, the earnings gap between rich and poor was still 20% wider than in  1985. And in the years since 2005, which are not covered in the study, the  narrowing of the wealth gap appears to have flattened off, Pearson added.
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This note was uploaded on 10/21/2008 for the course AN SC 999 taught by Professor Balzak during the Fall '02 term at Cornell University (Engineering School).

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Lecture notes 02 - Gap between rich and poor narrows, but...

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