Thursday 25 September 2014

Who Wants To Fight The Power?

Percentage of people in each country who say the economy favours the wealthy and is rigged against them. Source: Pew Global Attitudes Economic Report, 2013.

Australia: 44%

Canada: 58%

United States of America: 61%

Japan: 61%

United Kingdom: 65%

France: 70%

Germany: 72%

Mexico: 74%

Czech Republic: 75%

Israel: 76%

Russia: 78%

Poland: 79%

Brazil: 80%

South Korea: 85%

Italy: 86%

Spain: 89%

Greece: 95%


Why Income Inequality Matters

Income inequality is directly correlated to higher levels of child poverty, poor health, and shorter lifespans.

There are other concerns:

Income inequality undermines the democratic process that our country was founded on. As the middle class shrinks and more people fall to subsistence living levels, they spend more time on their own survival and far less time participating in any form of democratic debate. They "disengage" from the democratic process -- and leave the decision making to others, without any direct input.

We need to question the notion that income inequality and economic efficiency are trade-offs.

Instead have a greater income equality. I believe it's a  prerequisite for sustainable long-term economic growth.



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