ILO chief laments failure to tackle inequality at Davos
I am no economics expert but have the following thoughts:
1) Is it fairer to say there is “little they can do” instead of “unlikely to do anything about it”? I am curious as to what can actually be done? The most common method of trying to redistribute the wealth has been the implementation of a type of “Robin Hood” tax which is highly ineffective as the rich have the means to move their wealth around various countries
2) Like it or not the world economy functions on a “trickle-down” basis from the 1% to the 99%. Very simply, the 99% is dependent on the enterprise of the 1%. A man with a billion dollar net-worth can stomach the risk of 1-2 million which can do wonders for somebody’s job and family and produce that trickle-down effect.
3) There is simply no onus on the 1% to do that. The only way I suppose is to persuade the 1% by showing them that they have benefitted tremendously from the 99% working rather hard to help them create their wealth.
4) If this continues for too long it will change from an economic problem to a peace and security problem. I am no Marxist, but Karl Marx said “The history of all hitherto existing society is the history of class struggles.” Is it possible to try our very best to keep this an economic problem rather than have it evolve into a security problem?
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