Sunday, December 10, 2023
Income and Wealth Inequality
The concept of inequality is built into the capitalist system, in order to provide incentives for education, hard work, and innovation. There’s a sweet spot where this works, but when our real world incomes veer too far one way or another, problems arise. Crash Course Economics gives us a short course in income inequality, how it has changed over the past few decades, and possible consequences. The question still remains: what are we going to do about it?
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Thank you for posting this. Education on this subject is sorely needed. If we (the U.S.) keep on as we are now, we won't have a Middle Class at all. Big companies need to stop shipping jobs overseas, give employees full-time jobs with benefits, and otherwise give the majority a chance to get back into the middle class. Taxes need to be changed so that loopholes are closed, and shareholders pay full taxes on their income. Banking regulations need to be strengthened.
And all that has about as much chance of happening as this Congress approving the climate agreement reached by 190 countries.
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