Wednesday, October 5, 2011

Thom Hartmann: Speaking of the 99% versus the 1%

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Speaking of the 99% versus the 1% - a new report out of the International Monetary Fund finds that one of the greatest factors for prolonged economic growth in a nation is a low level of wealth inequality. By reviewing economies around the world - and looking at economic variables such as political institutions, debt, and trade - the study found that by far - it's wealth inequality that has the greatest effect on sustained economic growth - and that if nations are made 10% more equitable in their wealth distribution - then they could see economic growth sustained for 50% longer.
As in - if you spread the wealth around a little better - then you'll see much better economic growth for the whole nation. Currently - the United States is the most unequal nation in the developed world - and more unequal than nations like the Ivory Coast, Ethiopia and Pakistan. We have a lot of work to do to fix this imbalance - and it starts with Wall Street.
(Do you think the top 1% will pay any attention? Tell us here.)

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