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.