The IMF has noted that:
The IMF's Gita Gopinath, the World Bank's Pinelopi Koujianou Goldberg, and the OECD's Laurence Boone–all chief economists of their respective institutions, talked about inequality and its economic origins during a roundtable discussion opened by Christine Lagarde during the IMF's 2019 Spring Meetings.
And as they also note:
Boone argued that there is scope to level the playing field among large multinational corporations.
“At the global level, we must ensure that firms pay their fair share of taxes to create value and employ people,” Boone emphasized.
Gopinath agreed with Boone's point on taxation, adding that “redistribution may be a channel that hasn't been used enough.”
The times, they are a changin', as someone once said. And for the better, I think.
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I am sure they are all well meaning people, however anyone who believes these hired hands have any agency via a via the “real politik” of the US State Department should seek professional help. As usual with such bodies very long on words, very short on action.
I disagree
I think these words do have meaning
And we are seeking real change
Changed narratives are very powerful
As is having women in such roles
I have no doubt that change is occurring
Yes Richard, language is important and changed narratives act as important catalysts to changed action. When the IMF reverses its imposition of austerity on Greece for example I will modify my view, but somehow I don’t see that happening.
I am more hopeful
I see the ECB as the greater problem there
I agree with Richard insofar as we now seeing genuine destabilising forces that could lead to one the worst outcomes of all (besides climate change) – the possibility of war.
Back to Richards original point; the IEA no less (of Tufton St notoriety), was running a session on excessive executive pay. When the IEA and Resolution Foundation are on roughly the same page and agreeing that exec pay is excessive and dysfunctional, things are shifting.
🙂