I recently posted about a series of articles I’ve written on inequality so here are a few links, notably from the always fascinating Freakonomics blog.
But first start here with Foreign Policy’s ‘We’re all the 1 percent‘ which demonstrates how even the middle class are globally sitting pretty at the top of the pile. But it also demonstrates why it’s inequality within and not simply between societies that matter.
To further illustrate that this infographic from Mint shows the amount of spare cash most Americans have. The headline point to note is that more than 65% of Americans have more than $7000 a year discretionary spending (after bills and so on) and compare that to 2.5 billion living on no more than $700 a year and you can see the inequality.
Let me put it this way two thirds of Americans have ten times more spare cash each year than a third of the world has to live on in a year!
So that’s global but it’s inequality within societies that matter most. What about that? Here are three posts from Freakonomics. Don’t be put off by the titles, this is key stuff.
- There will be rich always: finding a new way to think about income inequality
- An inequality tax trigger: The brandeis ratio explained (this one is about the economics)
- Is higher inequality associated with lower intergenerational mobility?
All this is to say that inequality matters now and it matters to our kids. Basically the rich will get richer and the poor will get poorer.