What have you always wondered about the economy? Tell Us

Report: Income disparity and fiscal imbalances threaten global economy

Jeremy Hobson Jan 9, 2013
HTML EMBED:
COPY

Report: Income disparity and fiscal imbalances threaten global economy

Jeremy Hobson Jan 9, 2013
HTML EMBED:
COPY

The World Economic Forum is preparing for its annual summit in Davos, Switzerland, later this month. In advance of the meeting, the international group has released its list of the biggest threats to the global economy. Topping the ranks again this year are income disparity and fiscal imbalances.

“These two issues are quite structural in nature, and it [takes] a lot of political leadership and capital to tackle these issues in a meaningful way,” says Lee Howell, a managing director with the World Economic Forum. Howell notes that the eurozone and U.S. are starting to show some progress on fiscal issues.

The WEF report also highlights rising greenhouse gas emissions and the failure of the international community to take action on climate change. Howell says the issue has broad implications for the global economy.

“I think case in point is in the United States — post the Superstorm Sandy — where we learned that not only do you need to be environmentally resilient, but theres a bit of economic resilience as well because it’s taken time to really find the funds to address the damages,” says Howell.

 

Marketplace is on a mission.

We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.

Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?

Your donation is critical to the future of public service journalism. Support our work today – for as little as $5 – and help us keep making people smarter.