Keyword: economic inequality

Why We Shouldn't Trust Markets with Our Civic Life

Picture: Free Pic Video We have drifted from a market economy to a market society and one of its most corrosive effects is un-commonality, argues Harvard academic, Michael Sandel. Those who are affluent and those who have modest means lead separate lives. This isn't good for democracy. Democracy doesn’t require perfect equality, but what it does require is that citizens share in a common life. What matters is that people of different social backgrounds encounter one another in the ordinary course of life...

The Rise of the New Global Super-Rich

Picture: As seen on TED. Video Author, Chrystia Freeland, looks under the hood of global capitalism to expose the technological, economic and structural inequalities pushing society in unforeseen directions. Technology is advancing in leaps and bounds -- and so is economic inequality, argues Freeland. In an impassioned talk, she charts the rise of a new class of plutocrats (those who are extremely powerful because they are extremely wealthy), and suggests that globalization and new technology are actually fueling, rather...

Public Should Support Policies that Reduce Inequality

Picture: Sony200boy/Flickr Frank Meintjies - South Africa is battling the curse of inequality. Inequality impacts profoundly on other key issues, exacerbating social ills, eroding community cohesion, fanning societal conflict and, for us, injects a sense of urgency into next year’s national elections. We are reaping the fruit of inequality. All the signs are that inequality in South Africa is linked to the high levels of violence, the type and frequency of xenophobic attacks, the pervasiveness of gender-based violence and...

Global Wealth Inequality: What You Never Knew You Never Knew

Picture: inequality.org Video People are talking a lot about inequality these days. It continues to grow within and between countries. The world's total wealth has been estimated at US$223 trillion. The richest one percent has accumulated 43% of this wealth. Simultaneously, there is a growing gap between rich and poor countries. Two hundred years ago rich countries were only three times richer than poor countries. Today they are about 80 times richer. Much of this can be attributed to the unfair rules of the global...

The Inequality Debate

Picture: salary.com Video Within cities and countries around the world the gap between the rich and the poor is widening in a global trend that some economists have warned will have detrimental effects on society. In the US which has one of the highest levels of inequality in the West, the richest 10% of Americans receive about half of the nation's income. In a time when economic growth in many countries is slowing and governments are advocating fiscal austerity, is the question of inequality being factored into...

These Days Even the High Priests of Capitalism are Talking about Inequality, So Where's the Momentum to Reduce It?

Picture: glennshootspeople Vanessa Baird - "You can’t evict an idea," read a sign posted in the window of 21-29 Sun Street, in the City of London. The grey concrete office block, owned by the Swiss bank UBS, had been invaded and turned into a ‘Bank of Ideas’ by members of London’s Occupy movement. Inside, instead of screens and monitors showing the ups and downs of the markets, walls were decorated with Banksy-style graffiti art. Where there might have been a boardroom table, ping pong...