Growing inequality

Wealth distro“This massive concentration of economic resources in the hands of fewer people presents a real threat to inclusive political and economic systems, and compounds other inequalities – such as those between women and men. Left unchecked, political institutions are undermined and governments overwhelmingly serve the interests of economic elites – to the detriment of ordinary people.” Oxfam reports that the 85 richest people own as much as the poorest half of humanity put together.
The growing #inequality between the haves and the have nots continues to grow despite all the trickle down economics that was supposed to help the poor. There is no rising tide in the forecast that will lift all the boats and reduce poverty and provide the education and skills required to improve productivity. Those who have control of the property and assets will continue to reap rewards and those without will continue to struggle to make ends meet. Nation states will continue to protect their wealthy citizens as they control the nation’s wealth. All others are second class citizens and can be controlled with the laws of the state, if they step out of line to grab a fair share of their existence. Who ever heard of laws to help the homeless, insane, destitute or of our own folks in deep despair? The laws are written to protect the precedence of established #wealth and hierarchy, by the paid servants whether by political or economic patronage. Suspect all not for profits and charitable institutions, until you can see them working with the disadvantaged and for them alone.
Modern states have all the tools at their disposal to build a more equitable economy through the use of taxation and the dreaded words to conservatives “income distribution”. A more equal world will open up opportunities for half of humanity living in dire states and allow them to achieve what the 85 can never do on their own. I am no Robin Hood who would rob from the rich to give to the poor. I would instead advocate a path of growth and development where the state provides justice and the rule of law and national security and leaves the rest to the people. The use of taxation is to take from those who have been blessed with too much and use it for education, health care, shelter of the masses by providing the infrastructure for the people to build their own lives. People are resourceful and can solve their own problems and to create what they need, to leads a happier life. We do not need the Rich or the State to provide handout but rather help the individual to develop into a productive member of society.
The state should ensure that the roadblocks from outdated laws and political patronage, should be overhauled to provide more inclusive growth. This overwhelming inequality is a moral insult to all people who value human dignity and respect human freedom. Why force people to live out a life of subsistence and depravation when we have the means to raise them out of poverty and destitution. The cost of raising their standards is insignificant in the larger political economy; as if we stop our wars for even a year, we will be able to pay for it many times over. It is the price we pay every day that is too much; to have this #inequality fester, all over the human body. Given the opportunity people will become productive and lift themselves out of poverty and ignorance. Even history guides us as Greek-Roman historian Plutarch: `An imbalance between rich and poor is the oldest and most fatal ailment of all republics.` . Is the empowerment of 85 more important than that of 3,500,000,000?

This entry was posted in Economics, Hope, Life is valuable and tagged , , , , by Rajiv Kapoor. Bookmark the permalink.

About Rajiv Kapoor

Rajiv Kapoor was born in New Delhi. He was educated by the Jesuits at St Xavier’s, and graduated with Honors, from The University of Delhi. Rajiv Kapoor did his MBA in International Business from Penn State and is now settled in the US. He has traveled across most states of India, when he was working on modernization of Rice Mills, and understands their diverse culture and history. This book is a historical fiction, dedicated to his city of birth. His extensive research dives deep into a critical moment, in India’s long history, for his latest Historical Thriller “The Peacock Throne Wars”..

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