Tuesday, October 21, 2008

Study shows gap growing between rich and poor

Study shows gap growing between rich and poor - BusinessWeek
The gap between rich and poor is getting bigger in the world's richest countries -- and particularly the United States -- as top earners' incomes soar while others' stagnate, according to a 30-nation report released Tuesday.

In a 20-year study of its member countries, the Paris-based Organization for Economic Cooperation and Development said wealthy households are not only widening the gap with the poor, but in countries such as the U.S., Canada and Germany they are also leaving middle-income earners further behind, with potentially ominous consequences if the global financial crisis sparks a long recession.

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