18 Jul 2012

‘High pay is good for Britain' ...?

‘High pay is good for Britain. In fact it is vital.’ So wrote Michael Spencer, chief executive of interdealer broker, ICAP, who has a fortune worth half a billion pounds, in the Independent on 10 March 2012. Not true, as shown in this rebuttal of “trickle-down” economics by Stewart Lansley of The Townsend Centre for International Poverty Research at Bristol University and the author of The Cost of Inequality: why economic equality is essential for recovery.
See Inequality and instability: why more equal societies have more stable economies at www.cpag.org.uk/sites/default/files/CPAG-Poverty142-inequality-instability.pdf

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