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Inequality

Inequality is mortally dangerous.[1] Socio-economic inequality is a most perverse side effect of globalization under a neo-liberal market economic ideology. The rich grow richer while the poor lag behind. The bottom billion, World Bank economist Paul Collier calls them.[2].

Inequality within countries is the most problematic; on the large global scale, inequality between nations seems to be decreasing mainly because of the surprising development in parts of Asia and Africa. Research shows that inequality within countries has numerous disastrous social effects.[3]

Money buys you stuff, but also other people’s time. So what happens when you have a lot of money? You gain power over others. The more money, the more you can decide upon. Where money accumulates, power is concentrated. The power to keep your assets safe, as well as the power to have other people working for you. As long as markets are not corrected for the self-inflating effects of big capital, free markets lead to growing inequality.

  1. [1]Wilkinson and Pickett, The Spirit Level, 2010: 81-84.
  2. [2]Collier, Paul (2007). The Bottom Billion. Why the poorest countries are failing and what can be done about it. Oxford: Oxford University Press
  3. [3]Judt (2010)