The financial internationalization contributes to increase the salary inequalities
Since the beginning of the years 1990, the inequalities of incomes became more pronounced in a majority of country in spite of a very strong increase of the employment. Bound intimately to the "financial internationalization", the phenomenon risks to worsen with the crisis of the banking sector and the downfall of the Stock markets, according to a report of the international organization of work (ILO) returned public Thursday October 16. His/her/its findings are going to weigh in the proceedings that appear about the reform of the international financial system.
It is the first time that the ILO achieves a survey as complete on the sharing of the fruits of the growth, to statements of his/her/its authors. In 51 countries (on the 73 for which of the data were available), the part of the wages in the "total income" moved back during the last two decades. The strongest reduction occurred in Latin America and in the Cribs (13 points in less), consistent of Asia and the region of the Pacific (- 10 points).
In the same way, the ditch enlarged between the salaried employees of the first docile (that means the better 10% the paid) and those of the last docile (the 10% least salaried) in 18 countries out of the 27 observed. Particularly strong in Hungary, in Poland, to Portugal and to the United States, this tendency touched also from the States where the inequalities were, until now, marked little (Denmark, Sweden). Some countries, as France or Spain, recorded the inverse movement.
"THE PERFORMANCE"
The disparity of the incomes dug itself, notably under the effect of the "based remuneration systems on the performance" put in place for the controlling settings and the business managers. To the United States, for example, the ministerial presidents of the fifteen bigger groups discerned a remuneration 521 times more elevated than the one of an employee in 2007 (against 370 times in 2003). Australia, Germany, Hongkong, Netherlands and South Africa knew similar evolutions.
Such practices "generated very moderate effects, or even insistent on the performance of the enterprises", underline Raymond Torres, director of the international institute of social studies (a "autonomous" structure of the ILO, that achieved the report). They probably developed themselves to the favor of "the dominant position" that the leaders of enterprises occupy "in the negotiation with the shareholders."
These "unequal models reflect (…) a process of financial internationalization" that results from the deregulation of the fluxes of funds to the international scale, according to the ILO. This phenomenon amplified the economic instability: in the years 1990, the crises of the banking system were distinctly more frequent than before, dragging, to the passage, of important destructions of jobs that hit the most vulnerable households".
In this context, the public powers have an important role to play, recall the report. But in the majority of the countries members of the ILO, the fiscal policies became less redistributions. Thus, between 1993 and 2007, the middle tax rate of the households situated in top of the scale of the incomes lowered three points, passing from 37% to 34%. Idem for the enterprises (- 10,4 points). According to the ILO, the social policies didn’t generally counterbalance "this least progressively of the tax."


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