An internal discussion among the IMF staff regarding income inequality

IMFStaff members of the International Monetary Fund organization just published a document for debate regarding the global scope of income inequality. And while I dislike the phrase “income inequality” and prefer the phrase “opportunity inequality”, the document makes important points about what is probably the most serious issue of our times.¬†The disclaimer at the beginning of the document warns against associating the findings of this paper with the IMF and that the paper should be taken as the views of its authors. That’s fine. It presents a lot of facts for serious consideration. The one overarching fact is that paying people more in real wages, rather than exploiting the working poor and gutting the middle class, makes for an environment that allows the economy to work for¬†everyone, not just a privileged few. It’s worth the read.