Unequal = Indebted
IMF Podcasts, December 8, 2011
Source details
- Canonical URL
- Unequal = Indebted
Other formats
Bibliographic details
- Published: December 8, 2011
Central findings and argument
- For the last three decades, in many countries, the rich have become ever richer, while the vast majority have seen their incomes stagnate.
- This increasing income inequality has been coupled with ever greater debt burdens.
- IMF economists draw a link between higher inequality and increased debt.
- Michael Kumhof, IMF Research Dept, identifies similarities between the Great Depression (food lines during the Great Depression, 1930, cited) and the current crisis.
Key themes discussed in the episode
- The evolution of income distribution over the last three decades and its macroeconomic implications.
- The relationship between rising inequality and rising household and/or national indebtedness.
- Historical parallels used to contextualize contemporary financial stress (reference to the Great Depression, 1930).
Participants and production
- Michael Kumhof, IMF Research Dept — contributor presenting the IMF economists’ analysis linking inequality and debt.
- Bruce Edwards — produces the IMF podcast program; award-winning audio producer and journalist who has covered armed conflicts, social unrest, and natural disasters; believes economists have an important role in solving the world's problems and aims to showcase their research in IMF podcasts.
- Rhoda Metcalfe — independent journalist and audio producer.
Date
- December 8, 2011