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Economics Nobel laureate Joseph Stiglitz has pointed out that the richest 1 per cent of Americans own over 40 per cent of the country’s wealth. And the top 10 per cent own 80 per cent of the country’s wealth! In India we’ve been hearing for years about high growth and how we’re shining and soon will become a superpower, etc. Nobel Prize winning economist Amartya Sen and noted sociologist Jean Dreze recently pointed out that growth is not the same thing as development. “Growth, of course, can be very helpful in achieving development, but this requires active public policies to ensure that the fruits of economic growth are widely shared.”

Full article @ Daily Post (India)

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