Gated recessions: multitudes could suffer while the rich grow richer and macro indicators mask hard times
Livemint
byKaushik Basu
Thursday, August 27, 2026 at 08:30 AM
Lower-middle-class households in India may effectively be caught in a ‘gated recession.’ Trying to halt AI job takeovers would do more harm than good but governments could levy higher marginal taxes on the fortunes, inheritances and incomes of the ultra-rich.
By advanced-economy standards, the US has a high poverty rate. In 2024, 10.6% of Americans lived below the poverty line, which is defined as an annual income of less than $31,812 for a family of four… [+4405 chars]
Language
eng
Source
Livemint
Category
general
Added
227d ago
