High and rising inequality has become one the defining challenges of our time, causing concerns among policymakers, especially in G7 countries. As a response, policy makers have adopted different strategies to address the issue. We argue that the unsatisfactory results of this uncoordinated approach reflects a misunderstanding of the multidimensional nature of inequality and of its main drivers. A common and coordinated framework among G7 countries, both individually and as a group, could prove more effective in addressing inequalities.
Policy Implications• G7 countries need to develop a common understanding on the drivers, trends and related policy implications to tackle inequalities more effectively.• A common framework on inequalities is developed as a new policy tool to bring together the economic and non-economic dimensions of inequality and establish a link between the different dimensions of inequality and their key drivers.
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