Wealth inequality really depends and as you note it is vague enough tp argue it either way
one of the artefacts* of the slump has been to narrow the gap and there has been some redress since feudal times.
That said the reduction is limited
I dont think people should mangle statistics to spin an emotional response that’s contrary to the facts.
I agree but I am unsure how you can read that emotive right wing appeal and not conclude that this is exactly what it is doing
The hijacking of Oxfam by the politicised left is nothing short of a tragedy. It’s heartbreaking…..
It has today come up with some questionable figures suggesting that the richest 1 per cent will soon own over 50 per cent of the wealth
Oddly the author just tells us this rather than refute them with figures as the like.
TBh the article raises some interesting points but its more polemic** and cherry picking of stats than Oxfam ever was.
FWIW i think an interesting debate, unlikely on here I grant you, could be had about how the spread of global capitalism has raised more people out of poverty – remember the target is for them to have $1 per day and when they had nothing its easy to both raise them whilst the rich get ever richer – they are not mutually exclusive.
FWIW i find it rather interesting that a system designed to exploit the poor helps them a tiny bit but helps the wealthy become even more wealthy gets lauded by the wealthy as some sort of noble reducer of wealth and inequality. Its clearly inherent in capitalism that we get winners and loser and , IMHO, the best you can argue is the losers have done better under exploitation that they did without it. I would be interested to see the stats about what % of the new wealth – the increase in the pie has gone to the workers and has gone to the owners. i think that we will find as they “drag” folk out of poverty [ an artefact I would argue rather than design of capitalism] they aremaking substantially more as always. I would wager that it time to post up the Ragged trousers philanthropist 😉
* the greatest one has been poverty reduction [ west] as it is calculated relative to the average wages s as this drops so do the % ” In poverty” rather oddly we can all be on average worse off and a result fewer of us ar e in poverty. That is you can prove anything with statistics so you need to look at the bigger picture sometimes
** My favourite
The Oxfam report is stuffed with the usual leftist cliches
I am sure Stoner will agree that is full of right wing cliches and trope. oh the irony
We are, right now, living through the golden age of poverty reduction. Anyone serious about tackling global poverty (and I’m afraid we have to exclude Oxfam from this category) has to accept that whatever we’re doing now, it’s working – so we should keep doing it. We are on the road to an incredible goal: the abolition of poverty as we know it, within our lifetime.
Those who care more about helping the poor than hurting the rich will celebrate the fact – and urge leaders to make sure that free trade and global capitalism keep spreading. It’s the only true way to make poverty history.
Proper nice troll that though if posted on here 😛
Posted 9 years ago
