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Inclusion the way to tackle income inequality

Inclusive growth may generate a more prosperous and egalitarian society, whereas redistribution may fail to benefit either inclusion or growth.

Many fear that income inequality - a key issue at this year's World Economic Forum - is a global phenomenon with similar causes everywhere. But this proposition may be dangerously misleading.


THE issue of rising income inequality loomed large at this year's World Economic Forum in Davos, Switzerland. As is well known, the United States' economy has grown significantly over the past three decades, but the median family's income has not. The top one per cent (indeed, the