Magazine article Risk Management

Wage Disparity in Latin America

Magazine article Risk Management

Wage Disparity in Latin America

Article excerpt

Although Latin America may have escaped the financial crises currently plaguing Asia and Russia, the region suffers from a gross disparity in distribution of income, according to a report by the Office of the Chief Economist of the Inter-American Development Bank. The gap between rich and poor is likely attributable to education--the wealthiest 10 percent of the working population are individuals who have completed secondary school. In addition, these families have fewer children and, typically, two working parents.

As the result of a decrease in the fertility rate, Latin America has been presented with a unique window of opportunity to correct this imbalance. According to the report, "the proportion of people of working age is rising faster than the number of children." This means more working adult women, and better ways to finance an improved education system.

For the next two decades, government and social systems in the region must put into effect programs to reverse the status quo. …

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