3 ms·
What matters is not so much the degree of income inequality, but whether the masses on the fat tail of the income distribution feel they are struggling to satis
by cs702 10y ago
What matters is not so much the degree of income inequality, but whether the masses on the fat tail of the income distribution feel they are struggling to satisfy basic needs like food, shelter, and education.
Societies in which the majority of people are struggling to satisfy such needs are probably not sustainable, regardless of the "fairness" of their economic and political systems.
Put another way, the system 'must work' for a majority of people in it.
- conanbatt 10y agoI take it as the direction of income inequality is worse than wealth inequality. If 10U$S of new value are created, and only 1$ of it goes to the bottom 60% the bottom will stay there. In a way, the direction of where you are going matters more than where you are. Even if everyone had food and shelter, we would feel less anxious but inequality would still get more profound and unavoidably end up in some people owning others.