Global leaders urged to join initiative to fight extreme inequality

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The World Bank recently warned that ‘barring a miracle’, the 2020s would be a lost decade for many developing countries. Photograph: Donatas Dabravolskas/Alamy View image in fullscreen The World Bank recently warned that ‘barring a miracle’, the 2020s would be a lost decade for many developing countries. Photograph: Donatas Dabravolskas/Alamy Income inequality Global leaders urged to join initiative to fight extreme inequality More than 1,500 academics and economists sign letter, calling growing gap between richest and poorest ‘a policy choice that can be reversed’

Prefer the Guardian on Google More than 1,500 academics and economists from 100-plus countries are urging global leaders to join an initiative against extreme inequality, calling current unfairness “a policy choice that can be reversed”.

Before the UN general assembly in New York next week, the experts have signed an open letter backing the International Panel on Inequality (IPI).

High-profile signatories include th former US Treasury secretary Janet Yellen, the Nobel prize-winner Daron Acemoglu, and a slew of other prominent economists, including Thomas Piketty, Mariana Mazzucato and Jayati Ghosh.

In the letter, they say: “Extreme concentrations of income and wealth translate into undemocratic concentrations of power, unravelling trust in our societies and polarising our politics.”