Rising inequality has become such a widespread concern in rich countries primarily because it is seen to be associated with long-term stagnation in living standards for ordinary working households, compounded by the Great Recession. A new book edited by Professor Brian Nolan presents the findings of a comprehensive analysis of performance in improving ordinary living standards over recent decades across the wealthy nations of the OECD.
The book relates the wide variation in this performance to overall economic growth, exploring why these often diverge substantially and how much this is due to increasing inequality. Analysis of the underlying causal processes highlights the complexity of the impacts of globalization and technological change on individual wages and household incomes. Other aspects of living standards are also incorporated, including non-monetary indicators of deprivation and financial strain, wealth and its distribution, and intergenerational mobility. By looking across this broad canvas, the book draws important lessons for how best to pursue the quest for inclusive growth and prosperity. Find out more.
Key findings from Generating Prosperity for Working Families in Affluent Countries and the companion volume from OUP Inequality and Inclusive Growth: Shared Challenges and Contrasting Fortunes, were presented at a two-day conference held at Nuffield College on 8 and 9 November 2018. The conference was co-organised with the OECD's Centre for Opportunity and Equality. Read more here.