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Inequality isn't inevitable, it's engineered. That's how the 1% have taken over
Key Excerpts from Article on Website of The Guardian (One of the UK's leading newspapers)


The Guardian (One of the UK's leading newspapers), January 19, 2015
Posted: January 26th, 2015
http://www.theguardian.com/commentisfree/2015/jan/19/inequal...

The [richest] 1% of the world’s population will own more global wealth than the 99% [by next year]. Oxfam executive director, Winnie Byanyima, is arguing that this increasing concentration of wealth ... is “bad for growth and bad for governance”. What’s more, inequality is bad not just for the poor, but for the rich too. That’s why we have the likes of the IMF’s Christine Lagarde kicking off with warnings about rising inequality. Visceral inequality ... is still seen as somehow being [a] moral failure of the poor. This in turn sustains the idea that rich people deserve their incredible riches. Most wealth, though, is not earned: huge assets, often inherited, simply get bigger [for] deliberate and systemic reasons. Inequality is not inevitable, it’s engineered. Many mainstream economists do not question the degree of this engineering. Neoliberalism [has been] a stage of capitalism in which the financial markets were deregulated, public services privatised, welfare systems run down, laws to protect working people dismantled, and unions cast as the enemy. Oxfam’s suggestions at Davos are attempts to claw back some basic rights. But isn’t it rather incredible that a charity has to do this?

Note: Oxfam's complete report "identifies the two powerful driving forces that have led to the rapid rise in inequality" as "market fundamentalism and the capture of politics by elites." For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.


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