On 27 November 2015 the Dutch Supreme Court delivered its judgment in an interesting case concerning a Ponzi scheme. It ruled that the bank where the swindler held his accounts had a special duty of care towards the investors, who were third parties.
Obama calls it the “defining challenge of our time”. Head of IMF Lagarde says it casts “a dark shadow … across the global economy”. Income inequality went up considerably in most rich countries. How can we explain this & what are possible consequences?
This blog examines trends in the top 1 percent income shares and income inequality as a whole for 19 countries during 1970-2012 & the claim whether the rise in top income shares is a main factor in the increase in income inequality of the whole population.