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by zirkonit 1955 days ago
You are absolutely right! Everyone, from the most hardcore Marxist-Leninist leftists, to "don't tread on me"-style libertarians, would agree there is absolutely no difference how rich rich people are if there is less poverty.

This is precisely the reason why Dengist reforms happened in China -- to foster getting a billion people out of poverty by market reforms that yes, would make a few hundred billionaires.

The thing is, America is getting poorer. And as poor America gets poorer, rich America gets richer -- and, coincidentally, everywhere in the world, rising inequality means higher societal instability, less cohesion, less happiness and, absolutely, more poverty for poor people.

So the question we need to ask ourselves -- is it a coincidence that rich people getting richer and poor people getting poorer go hand in hand? Or is it a law of nature? I'm not sure either way. But you shouldn't so quickly dismiss people that actually do think these are correlated.

1 comments

The poor in America are getting poorer. The poor in much of the world are getting richer. This seems to be the consequence of globalization. So, no, it's not a law of nature that rich people getting richer and poor people getting poorer go together.