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Mar 6, 2024 · To interrupt this pattern, public policy must, at minimum, implement policies that tax wealth to cut down on the excessive concentration of wealth over time. Wealth Extraction. Wealth can come from many sources, and not all wealth accumulation is from exploitation. Some people, of course, become wealthy through luck and/or talent.
- Global Inequality
Global Wealth Inequality. According to the UBS Global Wealth...
- Global Inequality
[/fn] In most emerging and rich countries the wealth share of the top 1 percent has been rising steadily over the last two to three decades (see Figure 1.1). The vicious circle of inequality. Wealth – ownership of property, land or shares, for example – confers not just economic security but also social and political power.
Apr 8, 2024 · My book, and my argument, focuses specifically on the wealth concentration at the top because that causes particular problems. Basically, concentration of wealth means concentration of power and the ability to pollute the environment. There are all these harms and damages that wealth concentration can do. Robinson
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These reasons for redistribution are strongest when the poor are very badly off, as in the cases Singer describes. But there will always be some reason of this kind as long as redistributing assets increases the well-being of the poor more than it decreases that of the rich. These reasons for eliminating inequality are also based on an idea of equa...
The possibility of making the poor better off does not seem to be the only reason for seeking to reduce the worlds rising level of economic inequality. Many people in the United States seem to believe that our high and rising level of inequality is objectionable in itself, and it is worth inquiring into why this might be so. This inquiry is importa...
Second, if inequality, in itself, is something to be concerned about, we need to explain why this is so. It is easy to understand why people want to be better off than they are, especially if their current condition is very bad. But why, apart from this, should anyone be concerned with the difference between what they have and what others have? Why...
1. Economic inequality can give wealthier people an unacceptable degree of control over the lives of others.
If wealth is very unevenly distributed in a society, wealthy people often end up in control of many aspects of the lives of poorer citizens: over where and how they can work, what they can buy, and in general what their lives will be like. As an example, ownership of a public media outlet, such as a newspaper or a television channel, can give contr...
Economic inequality makes it difficult, if not impossible, to create equality of opportunity. Income inequality means that some children will enter the workforce much better prepared than others. And people with few assets find it harder to access the first small steps to larger opportunities, such as a loan to start a business or pay for an advanc...
4. Workers, as participants in a scheme of cooperation that produces national income, have a claim to a fair share of what they have helped to produce. What constitutes a fair share is of course controversial. One answer is provided by John Rawls Difference Principle, according to which inequalities in wealth and income are permissible if and only ...
Peter Singers powerful argument for altruistic giving draws on one moral relation we can stand in to others: the relation of being able to benefit them in some important way. With respect to this relation, to matter morally is to be someone whose welfare there is reason to increase.
But the objections to inequality that I have listed rest on a different moral relation. Its the relation between individuals who are participants in a cooperative scheme. Those who are related to us in this way matter morally in a further sense: they are fellow participants to whom the terms of our cooperation must be justifiable. In our current en...
These are not just objections to inequality and its consequences: they are at the same time challenges to the legitimacy of the system itself. The holdings of the rich are not legitimate if they are acquired through competition from which others are excluded, and made possible by laws that are shaped by the rich for the benefit of the rich. In thes...
T. M. Scanlon is Alford Professor of Natural Religion, Moral Philosophy, and Civil Polity at Harvard University.
Global Wealth Inequality. According to the UBS Global Wealth Report, in 2023 the world’s richest 1 percent, those with more than $1 million, owned 47.5 percent of all the world’s wealth – equivalent to roughly $214 trillion. Adults with less than $10,000 make up nearly 40 percent of the world’s population, but hold less than 1 percent ...
Sep 27, 2013 · One issue is that in the US – as in many countries – the rise in income inequality has been driven by the top 1% of income earners, and not by the following 9%, although both groups have the same diplomas. An even more important problem is that looking at earned income is not enough. Economists used to believe that the ratio of aggregate ...
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Nov 27, 2016 · That's why enormous wealth concentration continues. We need to transform this inverted pyramid of wealth concentration into a new shape; a wealth diamond with very few at the top, very few at the ...
