OECD: Social contract unravelling

Monday, 5 December 2011 11:43 AM

OECD secretary-general Angel Gurría comments on the organisation's new report on inequality:

"The social contract is starting to unravel in many countries. This study dispels the assumptions that the benefits of economic growth will automatically trickle down to the disadvantaged and that greater inequality fosters greater social mobility. Without a comprehensive strategy for inclusive growth, inequality will continue to rise.

"There is nothing inevitable about high and growing inequalities. Our report clearly indicates that upskilling of the workforce is by far the most powerful instrument to counter rising income inequality. The investment in people must begin in early childhood and be followed through into formal education and work."

Tags:
• inequality