Wealth Inequality and the risks it brings
I have a bad feeling about poor getting poorer and rich getting richer...
Just before the French revolution, Louis XIV's aide told him "Sir, the people are hungry", and Louis replied "Then they have to eat!".
When you are there as a society, when you are so disconnected, you have a problem.
In the USA, too many people have to work 2 jobs to be able to survive! And poverty is rising as a percentage of the population!
Here is a little piece of the article:
In the late 1700s, issues of fairness and equality were topics of great debate—
equality under the law, equality of opportunity, etc. Considered by the framers of the Constitution to be one of the most important aspects of a democratic system, the word “equality” is featured prominently throughout the document. In the 200+ years since, most industrialized nations have succeeded in decreasing the gap between rich and poor.
However, since the late 1970s wealth inequality, while stabilizing or increasing slightly in other industrialized nations, has increased sharply and dramatically in the United States. While it is no secret that such a trend is taking place, it is rare to see a TV news program announce that the top 1% of the U.S. population now owns about a third of the wealth in the country. Discussion of this trend takes place, for the most part, behind closed doors.
During the short boom of the late 1990s, conservative analysts asserted that, yes, the gap between rich and poor was growing, but that incomes for the poor were still increasing over previous levels. Today most economists, regardless of their political persuasion, agree that the data over the last 25 to 30 years is unequivocal. The top 5% is capturing an increasingly greater portion of the pie while the bottom 95% is clearly losing ground, and the highly touted American middle class is fast disappearing.
Just before the French revolution, Louis XIV's aide told him "Sir, the people are hungry", and Louis replied "Then they have to eat!".
When you are there as a society, when you are so disconnected, you have a problem.
In the USA, too many people have to work 2 jobs to be able to survive! And poverty is rising as a percentage of the population!
Here is a little piece of the article:
In the late 1700s, issues of fairness and equality were topics of great debate—
equality under the law, equality of opportunity, etc. Considered by the framers of the Constitution to be one of the most important aspects of a democratic system, the word “equality” is featured prominently throughout the document. In the 200+ years since, most industrialized nations have succeeded in decreasing the gap between rich and poor.
However, since the late 1970s wealth inequality, while stabilizing or increasing slightly in other industrialized nations, has increased sharply and dramatically in the United States. While it is no secret that such a trend is taking place, it is rare to see a TV news program announce that the top 1% of the U.S. population now owns about a third of the wealth in the country. Discussion of this trend takes place, for the most part, behind closed doors.
During the short boom of the late 1990s, conservative analysts asserted that, yes, the gap between rich and poor was growing, but that incomes for the poor were still increasing over previous levels. Today most economists, regardless of their political persuasion, agree that the data over the last 25 to 30 years is unequivocal. The top 5% is capturing an increasingly greater portion of the pie while the bottom 95% is clearly losing ground, and the highly touted American middle class is fast disappearing.
posted by Bambitroll at
11:11
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