Economic trends and forecasts bear out the old saying, “The rich get richer and the poor get poorer.” Well, not exactly. The poor are slowly earning more money in real terms. However, as is the case in the United States, the rich are earning even more. So in relative terms the gap between the wealthy—meaning the developed nations—and the poor—meaning the less developed countries—is widening, and it is expected to continue to widen unless international policies change in significant ways.
Excerpted from The Complete Idiot's Guide to Economics © 2003 by Tom Gorman. All rights reserved including the right of reproduction in whole or in part in any form. Used by arrangement with Alpha Books, a member of Penguin Group (USA) Inc.