The economic recovery may finally be gathering some steam in the
OECD area, but the world economy is still not firing on all cylinders.
High unemployment and widespread underemployment hold back
demand, and investment and international trade are sluggish, while
credit to the private sector remains tight in several countries. Though
growth in China may be holding up, it is below trend in some large
emerging economies, such as Brazil and India.
In short, the longest crisis of our lifetimes is not over yet. It is said that
a crisis is too important to waste, and for more than six years now the
OECD has worked with member and partner countries, international
organisations, the G20 and the public to draw lessons and devise
policies for a more inclusive, resilient world.
In this fourth OECD Yearbook, OECD experts and high-level guests
explore these lessons from three main perspectives: inclusive growth,
jobs and trust.
Take inclusive growth first. One of the chief lessons of the crisis has
been the extent to which inequality breeds exclusion, weakens
our structures and undermines economic activity. Moreover, these
inequalities had already widened before the crisis.
Today, in OECD countries, the average income of the richest 10% of
the population is over nine and a half times that of the poorest, up
from seven times 25 years ago. Even in traditionally egalitarian
Nordic countries, the income gap has widened.
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VIDEO - Opening Speech, Angel Gurria - Sec-General of thr OECD
=====================================================
The Organization for Economic Cooperation and Development (OECD) is
a unique forum where the governments of 34 democracies with market economies work
with each other, as well as with more than 70 non-member economies to promote economic
growth, prosperity, and sustainable development.
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