Economic inequality cannot be explained by individual bad choices, study finds
Economic inequality cannot be explained by individual bad choices, study finds
A global study led by a researcher at Columbia University Mailman School of Public Health and published in the journal Scientific Reports finds that economic inequality on a social level cannot be explained by bad choices among the poor nor by good decisions among the rich. Poor decisions were the s...
It CAN be explained by the ultra rich controlling everything though.
Our tax dollars get funneled into bailouts and subsidies for corporations and endless wars with countries that pose no threat to us.
I was talking to a friend that is an economist,he is more right leaning. As we both come from a socialist country. And we have seen the bad things of the left,but living in America I have seen way too much of the right too. There's this notion(that I don't agree with) that inequality it's just a byproduct of a healthy economic system. Because the logic is that,if we don't give economic entities everything on a silver platter (giving them bailouts and letting them fuck people) they will throw a tantrum and economy will colapse.
If too much power is held by too few people, it becomes more risky to defy them, but it's a problem of allowing capitalism to run unfettered towards its natural conclusion of sucking all the wealth up into the hands of the most rutheless, heartless, and lucky (their beneficiaries).
Aggressively breaking up monopolies would help. I'd also argue for legal limits on how much the CEO/highest paid staff can earn relative to their lowest paid. Also, economic programs that favor lifting new people up rather than supporting the existing success aristocracy.
Still come on, individuals should be held responsible to some extent otherwise some will use it as scapegoats to indulge their selfish endeavours.
We acknowledge that this dependency system should change, it's regressive & just gonna keep destroying future generations & our planet.
For contexts:
Activist #MMT - podcast
https://podcasts.apple.com/us/podcast/activist-mmt-podcast/id1484407459
https://podcastaddict.com/podcast/activist-mmt-podcast/2927396
With anecdotal evidence like Musk and Trump attempting to make any kind of financial decision, we might press father and ask if money makes you stupid.