Great Divergence (inequality)

The Great Divergence is a term given to a period, starting in the late 1970s, during which income differences increased in the US and, to a lesser extent, in other countries. The term originated with the Nobel laureate, Princeton economist and New York Times columnist Paul Krugman, and is a reference to the "Great Compression", an earlier era in the 1930s and the 1940s when incomes became more equal in the US and elsewhere. The International Labour Organization's 2013 "World of Work Report", predicted that the potential for social unrest in the European Union is the highest in the world.

Great Divergence (inequality)

The Great Divergence is a term given to a period, starting in the late 1970s, during which income differences increased in the US and, to a lesser extent, in other countries. The term originated with the Nobel laureate, Princeton economist and New York Times columnist Paul Krugman, and is a reference to the "Great Compression", an earlier era in the 1930s and the 1940s when incomes became more equal in the US and elsewhere. The International Labour Organization's 2013 "World of Work Report", predicted that the potential for social unrest in the European Union is the highest in the world.