As John Burn-Murdoch (FT) notes, across the UK, in general, inequality hasn't risen particularly over that last two decades, but... what has risen is the inequality between the top 1% & the rest of us....
Nevertheless, concerns about inequality are still germane, given the rates of poverty we see across the UK...
But we might also suspect what actually drives middle-class (media) concern with inequality, actually is the pulling away of their super-rich neighbours in London?
#inequality
h/t FT
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h4890
In response to this post@ChrisMayLA6 But we must remember, that inequality is nothing bad in itself, and just a consequence of peoples different abilities, priorities and laws of nature. It is an integral and important feature of our economic system, and removing inequality will hurt everyones quality of life, since it removes a strong incentive to work, and also, the feedback mechanism that determines when you are doing something right or not.
@h4890
I'd agree that where inequality is related to personal/individual proclivities & actions then you're right; the key Q. is what about the inequalities that are not due to those individual actions, either due to the effects of luck & happenstance, or where inequalities are engineered by political processes.
If we could easily divide off these two aspects then politics would be a lot easier... perhaps the difference is to which aspect we give the benefit of the doubt?
by Emeritus Prof Christopher May ;
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