One of the defining features of the post-GFC political debate is the increase in inequality observed in both developed and developing countries. Oftentimes, the discussion focuses on the Top 1%, though, which Top 1% one means is not always clear. The Top 1% income earners are not the same people as the Top 1% wealth owners. Of course, both income inequality and wealth inequality lead to social tensions but in my view wealth inequality is more corrosive because it can become self-perpetuating.
How far can inequality rise?
How far can inequality rise?
How far can inequality rise?
One of the defining features of the post-GFC political debate is the increase in inequality observed in both developed and developing countries. Oftentimes, the discussion focuses on the Top 1%, though, which Top 1% one means is not always clear. The Top 1% income earners are not the same people as the Top 1% wealth owners. Of course, both income inequality and wealth inequality lead to social tensions but in my view wealth inequality is more corrosive because it can become self-perpetuating.