In Europe we can see that the gap between the rich and poor is increasing and more people from the middle class are become lass wealthy and are feeling the pressure of making it possible to live a normal healthy, comfortable life.
For Europeans income inequality has existed for longer than it has in the U.S. and has been a block at the leg for many. According to some there might be little mobility within the wealth scale, but according to me the governments could help a lot by cutting of the top earnings and by not allowing to much difference between the wages. there should be a difference between the non-educated, the less experienced, the newer worker and those working already a long time for the firm, the management, the CEO, but it can not be acceptable that the CEO earns 300 times more than the lowest worker.
In Europe we luckily have the advancement and lots of people are less bad than in the U.S.A. because we do have our social safety nets. Because of the lacking of social safety nets for citizens in the United States the ones which would have less luck with their health or with work would be worse off and the inequality shall be felt more over there.
When we only look at the country of so much hope and so called liberty, we do find just four hundred persons in the US having as much in assets and income as the bottom 50% of Americans.
Even the so called communist China cannot escape the wealthgap. Chinese households at the top 5 percent of all income earners took in 23 percent of the total, while the bottom 5 percent earned 0.1 percent, a study of Peking University found.
When you move to the impact of global wealth distribution to individuals, according to Global Wealth Equality, the richest 1% on the earth have accumulated some 43% of the world’s wealth, while the bottom 80% of the planet’s inhabitants have just 6% between them.
In several industrialised countries for decades, the nation’s assets have grown more and more concentrated in the hands of a few, while the rest of the nation makes do with the crumbs ad are used as working machines, only there to produce and to bring in money for the company. Corporations receive more gains than the people doing all the hard work. Though the stone bricks or gyproc walls cannot do anything with the wealth, while the labourers need it to pay for their necessary food and well-being.
A few decennia ago lots of material was brought in from the colonies and those people over there where used as the jackpots. The ending of the colonies did not bring more justice. The post-colonial era has actually accelerated economic injustice on a worldwide basis.
The men in charge are forgetting previous inequalities under the population and what it got the nation into, cfr. Tsarist Russia and the Soviet Union. It is doubtful if harsh working conditions and instability can instil loyalty or even motivate employees to do their best. And how long shall they be willing to feel squeezed as a lemon? If governments are not careful we shall going to face some tumultuous years in a few years time. We better avoid that we come in a situation where so many people are disgusted by the system that they turn against it.
and please do find the Buzz Flash by Mark Karlin: Global Oligarchy: Richest 300 persons on Earth have more money than poorest 3 billion
Please also find:
- Materialism, would be life, and aspirations
- Count your blessings
- Good to make sure that you haven’t lost the things money can’t buy
- Living a perfect day
- When we love we do not need laws
- Richest 300 Persons on Earth Have More Money Than Poorest 3 Billion (dprogram.net)
Criticisms of the World Bank focus on how it creates financial conditions that result in debt dependency of the nations that borrow from it, therfore negatively impacting the economic prospects of the vast majority of its residents.
Trade agreements and global corporate exploitation of international monetary regulations provide resources and cheap labor to developed nations, while leaving poorer countries depleted. Is it possible that rich countries have increased the wealth gap from being 35 times greater during European colonialization to 80 times greater today? The video Global Wealth Equality contends that is the case.
- The Wealth Gap Is Crushing America’s Youth [CHARTS] (businessinsider.com)
Under the radar, study after study has shown just how the growing wealth gap could stymie upward mobility for America’s youth. In a telling report by Washington, D.C.-based think tank, The Hamilton Project, a team of researchers uncover economic data that show exactly how income inequality can impact social mobility in America.”It is too early to say for certain whether the rise in income inequality over the past few decades has caused a fall in social mobility of the poor and those in the middle class,” the authors write. “The first generation of Americans to grow up under this inequality is, on average, in high school—but the early signs are troubling.”
- China Wealth Gap Becomes a Chasm (hispanicbusiness.com)
The average annual income in Shanghai was came to $4,700. In the Gansu Province, in northwest China, the average income was about $2,000, said the survey conducted by the Chinese Family Panel Studies at Peking University.
- Kathleen Tiet, Blog 4 (soc133inequalityblog.wordpress.com)
Class inequality does not only happen in the United States but also in other countries around the world as well. Zong Qinghou, one of China’s wealthiest man, believes that China does not need to solve the problem of the rich and poor gap in their country, but believes that they should solve the problem of common prosperity. Common prosperity is the equal success everyone should be pushing for so that they are able to support themselves and their families.
China has been going through overpopulation problems, which had caused problems towards their economic, pollution, resources, and more. China created the “one child policy” so that they are able to control the overpopulation. Zong is possibly implying that if everyone has the same equal wealth and have the opportunity to purchase more food then there would not be enough food for everyone to eat comfortably, on top of the overpopulation problem their country is going through, which includes the limited resources (food) they have.
- Happiness = richer than neighbors (bankrate.com)
Call it the “keeping up with the Joneses effect.” Many people report that they would be happier if they earned more money, but for the middle class in particular, it’s not so much a specific number that matters, but whether they are doing better financially than their neighbors.A study that includes U.S. Census income data and surveys comparing income levels to happiness found that a widening gap in income is also pointing to differences in how Americans equate happiness with money.
- Economics (frankwrightuk.com)
Many in the middle class and working class are experiencing hardship due to the economic conditions in Western countries.
- The Problem With Rich Kids (bigthink.com)
A few months ago, a viral YouTube video showed that the top 1 percent of Americans now control 40 percent of the nation’s wealth. Earlier this year, a study suggested a link between wealth and longevity: the more money you have, the more years you’re likely to enjoy on earth. And this graph shows how warped the American income distribution is:
No matter how extreme the inequalities, defenders of plutocracy can always be counted on to offer justifications for the status quo. The upshot of most of these arguments is this: people deserve what they have and it is unfair for the government to take it away. The more talented, the harder working, the more industrious, the more tenacious among us justifiably wind up with millions while others make do with less, or with next to nothing. And the rich-poor gap, its apologists tell us, is good for those at the tail end of the distribution: the lower income brackets will benefit from the industriousness of the wealthy by being employed by them, by enjoying cheaper, better products, by sailing in a tide that lifts all boats. As long as markets are kept open and all are left free to pursue their dreams, every child in America will have a legitimate shot at living a secure and successful life. Or so the story goes.