The gap between the haves and have-nots in the U.S. widened between 2000 and 2005, according to a study conducted by the Paris-based Organization for Economic Cooperation and Development (OECD).
According to the report, the U.S. had the third highest level of inequality between rich and poor of the 30 member countries within the OECD. Mexico and Turkey had the highest disparities between rich and poor of the 30 member countries tracked by the organization.
The richest 10 percent of Americans in the OECD study earned an average of $93,000 a year. The poorest 10 percent earned an average of $5,800 annually.
Angel Gurria, secretary general of the OECD, called on governments to develop policies that help working families boost incomes rather than having to rely on social services to get by.
"Greater income inequality stifles upward mobility between generations, making it harder for talented and hard-working people to get the rewards they deserve," Mr. Gurria said in a statement.
Although the study was conducted through 2005, the OECD said its findings were still relevant to the situation facing the U.S. and other developed countries today.
Discussion Questions: What has the disparity of incomes in the U.S. meant for the business of retailing? Is there room for middle of the road merchants in a country where the economic middle appears to be shrinking?