-The Economist Growing inequality is one of the biggest social, economic and political challenges of our time. But it is not inevitable, says Zanny Minton Beddoes IN 1889, AT the height of America’s first Gilded Age, George Vanderbilt II, grandson of the original railway magnate, set out to build a country estate in the Blue Ridge mountains of North Carolina. He hired the most prominent architect of the time, toured the chateaux...

-The United Nations A new United Nations report advocates that governments use fiscal and labour market policies to reduce income inequality, maintaining that this not only leads to social benefits but will spur economic growth and development. Produced by the UN Conference on Trade and Development (UNCTAD), the Trade and Development Report 2012 says that recent experience, especially in Latin America and other developing countries, suggests that progressive taxation and rising public...

-IANS A right to information (RTI) activist here Monday complained to the Comptroller Auditor General (CAG), accusing a senior official of the premier auditing and financial propriety of splurging government money. Aires Rodrigues, in his letter of complaint to CAG chief Vinod Rai, said that Additional Deputy Comptroller and Auditor General Shankar Narayan, who was in Goa for a legislative orientation programme in June, splurged government money on business class air travel...

-The Economic Times The Austerity Measures announced by finance minister Pranab Mukherjee are likely to help the government save between Rs 800 crore and Rs 1,000 crore, said a senior finance ministry official. The government has decided to cut down on foreign travels of ministers and official delegations and has put a ban on creation of plan and non-plan posts The figure is based on preliminary estimates.  In addition, the 10% cut...

-IANS Facing a slow-down in the economy, the government has launched an austerity drive to reduce expenditure, banned new posts and meetings in five-star hotels besides restricting foreign travel. The finance ministry, which issued the office memorandum on "Expenditure Management - Economy Measures and Rationalisation of Expenditure" Thursday also asked all ministries to reduce non-Plan expenditure by 10 percent in 2012-13. "There will be a total ban on holding of meetings and conferences...