Aside Posted on
Through gritted teeth, the International Monetary Fund (IMF) has this week issued a ‘staff discussion note’ which contains a bit of a bombshell. The ballooning inequality that results from rampaging top people’s pay is not, as previously thought, an unfortunate by-product of technological process or increasing world trade. At least forty percent of the increase in bosses’ pay is down to the decline in union influence. And a further increase in inequality results from reductions in the level of minimum wages. Who could have guessed it?