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IMF study debunks right-wing arguments against income redistribution

The International Monetary Fund has backed economists who argue that inequality is a drag on growth in a discussion paper that has also dismissed rightwing theories that efforts to redistribute incomes are self-defeating. The Washington-based organisation, which advises governments on sustainable growth, said countries with high levels of inequality suffered lower growth…

US confirms economy grew 3.0% in Q4

The US economy grew at an annual rate of 3.0 percent in the fourth quarter of 2011, the Commerce Department said in its final estimate Thursday. The department’s third estimate for gross domestic product growth in the period was unrevised from its prior estimate and capped a year of steadily accelerating growth. GDP grew…

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