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Inequality has increased but poverty has decreased. The world is so much wealthier now. Yes high inequality is a problem but I'd argue too low inequality is a
by xupybd 4y ago
Inequality has increased but poverty has decreased. The world is so much wealthier now.
Yes high inequality is a problem but I'd argue too low inequality is a problem too. You need a difference of outcomes to motivate people. If that doesn't happen in currency it will happen in another way. For example people will invest in political power and work hard to corrupt the system in their favor. This happens with high levels of inequality but is reduced as there is a legitimate path to improving ones lot. There is something competitive in us the drives us to do better than our neighbors. That needs a legitimate outlet.
- dmwallin 4y agoIt seems plainly obvious that history shows the opposite is true; corruption is increased when money and power are centralized amongst a few people. There's a reason the term "Robber Baron" came around the last time we experienced massive inequality as a country. If you have some examples to the contrary I would love to hear them.
- FranzFerdiNaN 4y agoIf you take China out of the numbers poverty hasn’t really decreased.
- cudgy 4y ago> Inequality has increased but poverty has decreased. The world is so much wealthier now. Perhaps, but this is largely a result of manufacturing (a primary source of middle class jobs) moving from developed nations to previously agrarian economies. The same cycles will repeat itself until there are no pockets of cheap labor left in the world for the owners of these corporations to exploit.
- vageli 4y agoCheap is relative as the labor market is not globally uniform.