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I think what the article doesn't touch on is that while inequality has been falling on a global level (aka, between countries), it's been growing on a national
by CM30 10y ago
I think what the article doesn't touch on is that while inequality has been falling on a global level (aka, between countries), it's been growing on a national one. We're seeing the difference in lifestyle quality between richer and poorer societies decline (which is good) but the different in wealth between the richest and poorest parts of a country's population increase enormously.[1]
For the average US or European citizen, it doesn't matter that the standard of living in say, China is getting better. But it does matter that in their country, the top 10/1/whatever percent of the population have a greater proportion of the wealth than they did previously.
The article completely glosses over this.
[1]http://www.pewresearch.org/fact-tank/2013/12/05/u-s-income-inequality-on-rise-for-decades-is-now-highest-since-1928/ http://www.pewresearch.org/fact-tank/2013/12/05/u-s-income-i...
- rjbwork 10y agoIt's the Times...it's a bought and paid for neo-liberal rag at this point. Of course it glosses over this.