Here's what income inequality looks like around the world
On July 14, 1789, the French stormed the Bastille, a medieval
fortress-prison in Paris in one of the key moments of the French
Revolution.
The average people were fed up with the Ancien Régime — aka the
monarchy — and they were protesting the vast inequality between
themselves and the upper echelon.
Fast forward 266 years: inequality is still a major issue.
"We have reached a
tipping point. Inequality in OECD countries is at its highest since
records began," OECD Secretary-General Angel Gurría said in a recent report.
Mexico, Chile, the US and Turkey have the highest inequality
among the OECD members. And inequality is even higher in emerging
economies. On the flip side, Denmark, Slovenia, and Czech Republic have
the lowest.
"The evidence shows
that high inequality is bad for growth. The case for policy action is
as much economic as social. By not addressing inequality, governments
are cutting into the social fabric of their countries and hurting their
long-term economic growth," Gurría added.
For what it's worth, France is below the OECD average.