Economics

“The opposite of poverty is enough”

Conventional wisdom says that economic disparities lead to political violence, or mildly violent collective actions. Yet few politicians anywhere are willing to address root causes of social difficulties. It is so much easier to accuse disaffected people of being indolent, abusive, drug-ridden lawbreakers.

Those positions gain political success in many places. The Australian Institute of International Affairs noted confusion about the level of American support for Trump and the political party he captured and dominates:

Everywhere, economic disparity is the rule, not the exception. In some places, that is because favoured groups hold military and judicial power over the populace. In most places, the rich and powerful hold control of information, entertainment, and educational systems. Where they do not, they aspire to.

The World Inequality Lab receives most of its funding from the European Research Council and universities including the Paris School of Economics. The organization reports on distributions of wealth and income in most nations. Samples:

■ Canada is a country with high levels of inequality, midway between the US and Europe. The ratio between the incomes of the top 10% and the bottom 50% is equal to 13, compared with nine for the European Union and 17 for the US. While the average Canadian earns 30% more than the average citizen of the European Union (in purchasing parity terms), the poorest half of Canadians earn 85% less than the poorest half of Western Europeans.

  • “Extreme poverty anywhere is a threat to human security everywhere.”   — Kofi Annan, Seventh Secretary-General of the United Nations
  • “Poverty is the parent of revolution and crime.”   — Aristotle, Greek philosopher
  • “Poverty is the worst form of violence.”   — Mahatma Gandhi, Indian political and spiritual leader
  • “In a country well governed, poverty is something to be ashamed of. In a country badly governed, wealth is something to be ashamed of.”   — Confucius, Chinese teacher and philosopher
  • “An imbalance between rich and poor is the oldest and most fatal ailment of all republics.”   — Plutarch, Greek historian


Extreme wealth has a deadening effect on the super-rich – and that threatens us allGeorge Monbiot

Categories: Economics, Inequality, Justice

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