Income inequality is surging around the world, and not just in the United States. What we're seeing is the rise of a global plutocracy that is much different from the national plutocrats we saw over 100 years ago.
Generally speaking globalization and technology, which was supposed to have helped reduce inequality, have made things worse. More specifically, crony capitalism in the west - lower taxes, deregulation, privatization, and weaker legal protections for labor - have had a big hand in the rise of the global plutocrats, as writer Chrystia Freeland points out in this TED talk ...
The end result is that it is more and more difficult for the rest of us to catch up. As Freeland points out, the world needs a new New Deal.
- Mark
Generally speaking globalization and technology, which was supposed to have helped reduce inequality, have made things worse. More specifically, crony capitalism in the west - lower taxes, deregulation, privatization, and weaker legal protections for labor - have had a big hand in the rise of the global plutocrats, as writer Chrystia Freeland points out in this TED talk ...
The end result is that it is more and more difficult for the rest of us to catch up. As Freeland points out, the world needs a new New Deal.
- Mark
No comments:
Post a Comment