From an August 2014 report by S&P:
- At extreme levels, income inequality can harm sustained economic growth over long periods. The U.S. is approaching that threshold.
- Standard & Poor’s sees extreme income inequality as a drag on long-run economic growth. We’ve reduced our 10-year U.S. growth forecast to a 2.5% rate. We expected 2.8% five years ago.
For the report, see here.
For press coverage, see here.
animation annie leonard arms dealers austerity banks climate change corporate welfare corruption debt democracy Econ4 video remix contest economics education employment energy environment financial crisis fiscal policy free-market gar alperovitz gerald epstein gerald friedman greed green growth health care inequality insurance investment james k. boyce john maynard keynes joseph stiglitz Juliet Schor labor markets minimum wage movements music nancy folbre new economy Occupy Wall Street recession regulation subsidies taxes