Even the IMF recognises the vicious circle in which inequality breeds instability, which causes recession and spending cuts that make inequality worseChristine Lagarde took time off last week from grappling with the Greek debt crisis to make a speech about inequality. The managing director of the International Monetary Fund chose a nautical metaphor first used by John F Kennedy.Back in the early 1960s, the then US president hailed economic growth as a rising tide that lifts all boats. That was no longer true, according to Lagarde. Related: Pay low-income families more to boost economic growth, says IMF Related: Child poverty rise across Britain ‘halts progress made since 1990s’ Continue reading...
 |
| READ THE ORIGINAL POST AT www.theguardian.com |
