Income inequality "has emerged as a major social and economic issue" in Canada and elsewhere, writes Canadian author and political commentator Frances Russell.
"More importantly, no longer is it the sole concern of the left," Russell writes. "Such stalwarts of the economic right as the International Monetary Fund, the World Economic Forum and the British magazine The Economist are sounding alarm bells over the damage and cost inflicted on societies by wide gaps in income and wealth."
Russell cites a working paper by the IMF, which she says "points out the loss of worker bargaining power is an underlying cause of financial crises and restoring that power is key to reducing debt." If income inequality remains unaddressed, Russell suggests the revolutions taking place in the Middle East could possibly spread elsewhere.
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