The billionaires and corporate oligarchs meeting in Davos this week are getting worried about inequality. The architects of the crisis-ridden international economic order are starting to see the dangers. The scale of the crisis has been laid out for them by the charity Oxfam. Just 80 individuals now have the same net wealth as 3.5 billion people – half the entire global population. This is a wealth grab on a grotesque scale. In most of the world, labour’s share of national income has fallen continuously and wages have stagnated under this regime of privatisation, deregulation and low taxes on the rich. Escalating inequality has also been a crucial factor. Crocodile tears about inequality are a symptom of a fearful elite. But change will only come from unrelenting social pressure and political challenge. theguardian/commentisfree/2015/jan/22/davos-oligarchs-fear-inequality-global-elite-resist
Posted on: Fri, 23 Jan 2015 02:44:14 +0000
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