Posted on August 28, 2014 by iMFdirect
By Deniz Igan
(Version in Español)
Something unusual happened this year. For the first time in almost ten years, a book by an economist made it to Amazon’s Top 10 list. Thomas Piketty’s Capital in the Twenty-First Century captured the attention of people from all walks of life because it echoed what an increasing number of Americans have been feeling: the rich keep getting richer and poverty in America is a mainstream problem.
The numbers illustrate the troubling reality. According to the U.S. Census Bureau, 1 in 6 Americans—almost 50 million people—are living in poverty. Recent research documents that nearly 40 percent of American adults will spend at least one year in poverty by the time they reach 60. During 1968–2000, the risk was less than 20 percent. More devastatingly, 1 in 5 children currently live in poverty and, during their childhood, roughly 1 in 3 Americans will spend at least one year living below the poverty line.
Filed under: Advanced Economies, Economic outlook, Economic research, Employment, Financial Crisis, Globalization, IMF, International Monetary Fund, Investment, recession, Reform, unemployment | Tagged: economic recovery, education, health care, jobs, labor market, poverty, poverty reduction, recession, rich and poor, tax, U.S., United States, wages | Leave a comment »
Posted on May 6, 2012 by iMFdirect
By Anders Borg and Christine Lagarde
Last autumn was a turbulent time for Europe. The debt crisis deepened and financial markets became embroiled in turmoil, driven by fears of widespread restructuring of public debt. The crisis has harmed growth, increased unemployment, and left a large number of people less protected.
We are now seeing some signs of stabilization. Most countries are reducing their deficits and even if debt ratios are still rising, the return back to fiscal health has begun.
The International Monetary Fund and the Swedish Ministry of Finance are hosting an international conference in Stockholm on May 7-8, with the purpose of sharing knowledge and providing guidance on the best way to achieve fiscal consolidation, and on the role that effective fiscal policy frameworks and institutions can play in this endeavor.
Filed under: Advanced Economies, Economic Crisis, Employment, Europe, Financial Crisis, Fiscal policy, Fiscal Stimulus, growth, Inequality, International Monetary Fund, Multilateral Cooperation, Politics, Public debt, recession | Tagged: aging, Anders Borg, Australia, budgets, Canada, Christine Lagarde, employment, Finland, health care, iMFdirect, jobs, Netherlands, New Zealand, pensions, productivity, public debt, Stockholm, Sweden | 8 Comments »