Wealth concentration and lack of inclusiveness threaten productivity and growth, according to OCED economists

Our global economy will never become more productive, the developed world’s official economic research agency suggests, if we continue to let wealth concentrate.

The world’s most high-profile “advanced” corporations are manipulating their market power to extract unearned “rents” from the rest of us.

The “better-off everywhere” are exploiting their advantages in everything from income and wealth to health and education — and locking their family privilege in place for generations to come.

Those who assure us that we can count on high-tech “innovation” and “economic growth” to bring economic security to the world’s most hard-pressed are blowing smoke.

These bold claims all emerged last week in an important new report. Who made them? Some left-leaning think tank full of malcontents? Radical lawmakers in some obscure European parliament?

Hardly. These claims all appear in a new paper from the Organization for Economic Cooperation and Development, the Paris-based research and policy agency that’s funded by the 34 nations that make up the core of the “developed world.”

OECD analysts don’t carry pitchforks. They typically express themselves in rather ponderous bureaucratic prose. But in their just-published new report, The Productivity-Inclusiveness Nexus, these analysts have issued a fairly powerful heads-up to the world’s political movers and shakers.