INCOME INEQUALITY & ECONOMIC GROWTH

Very few, if any employees or managers can hope to earn what Bill Gates or other top executives who earn millions each year. But, what should be happening is a closing of that enormous gulf between average salaries and what top management makes- salaries often not even based on performance. Until incomes, worldwide, become more fair and somewhat more equal, economic growth will be stifled. Only a few gambling entrepreneurs will be able to reap the benefits of even slow growth. If the average employee cannot buy both necessities as well as a few luxuries, growth will stagnate. Fairness is not a problem for the lower paid workers, but for what he (or she) sees is being paid his bosses. The National Review (March 6, 2000) reveals, two of Washington's think tanks' joint study shows that the American income gap is widening. As a result, the economy is now slow

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Category: Economics - I