Inequality is bad for business
Economy Allowing income gaps to grow has been detrimental to economic stability in many countries and produced a breeding ground for populism and protectionism. This is a warning bell for all of us who defend openness, international trade and a sound market economy. Inequality is bad for business and sooner or later it leads to mistrust and political upheaval. This is the message of a new LO report presented at the World Economic Forum in Davos.
Growing insecurity and income gaps a breeding ground for protectionism and populism
In many countries working men and women have been forced to stand back and see a deterioration in their living standards.
This is detrimental to economic development and stability. The labour movement has always warned against this. We know that an even distribution of resources is vital for sustainable growth.
A progressive agenda for increased equality
Yet inequality will continue to grow until politicians and trade unions put a stop to it.Therefore, we want to invest for equality. Political and business leaders must commit to inclusive and equitable growth. They must seek cooperation with trade unions in defending a sound, long-term sustainable and inclusive market economy and against short-termism, populism and protectionism.
This is the key message in the new report from LO Inequality is bad for business - a progressive agenda for equality, presented at the World Economic Forum in Davos.
In the report a progressive agenda for increased equality is proposed.
Read the entire report here: Inequality is bad for business (pdf)