G-20 joins chorus about dangers of income inequality

[ksen]

http://www.bloomberg.com/news/artic...me-inequality-scourge-for-first-time-in-draft

Group of 20 finance chiefs for the first time signaled joint concern on mounting income inequality across the world economy.

“In some countries, potential growth has declined, demand continues to be weak, the outlook for jobs is still bleak and income inequality is rising,” finance ministers and central bankers from the leading industrial and emerging markets said in a statement released after talks in Istanbul on Tuesday.

The G-20, the IMF and the rest of them can be concerned all they want but until something actually gets done to address the out of control extraction of wealth and income by the top I'm finding it hard to get too excited about news like ths.

 

[Nice Squirrel]

Expect a retraction and continuation of policies that benefit first-world countries.

 

[Trausti]

Expect a retraction and continuation of policies that benefit first-world countries.

What makes a country first, second, or third world? Can't be the natural resources; look at Singapore. Or Iceland. Or Switzerland. The solution to any perceived "income inequality" is to jettison the miserable charity of the G-20 and for the the non-first world countries to get busy fixing themselves.

 

[ksen]

Expect a retraction and continuation of policies that benefit first-world countries.

What makes a country first, second, or third world? Can't be the natural resources; look at Singapore. Or Iceland. Or Switzerland. The solution to any perceived "income inequality" is to jettison the miserable charity of the G-20 and for the the non-first world countries to get busy fixing themselves.

........./

 

[lpetrich]

[The G-20, the IMF and the rest of them can be concerned all they want but until something actually gets done to address the out of control extraction of wealth and income by the top I'm finding it hard to get too excited about news like ths.

I agree. But what do they plan to do about it?