Global income inequality now back at 1820s levels – OECD

PARIS: The gap between the haves and the have-nots globally is now at the same level as in the 1820s, the Organization for Economic Cooperation and Development (OECD) said on Thursday (Friday in Manila), warning it was one of the most “worrying” developments over the past 200 years.

In a major report on global well-being over the past two centuries, the OECD noted inequality shot up after globalization took root in the 1980s. The report did note, however, that other indicators such as literacy rates and average life expectancy have improved dramatically since the 19th century.