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Growing Global Inequality Gap 'Has Reached a Tipping Point'


#1

Growing Global Inequality Gap 'Has Reached a Tipping Point'

Nadia Prupis, staff writer

With the gap between the rich and poor growing worldwide, a new study by the Organization for Economic Cooperation and Development (OECD) published Thursday suggests that the only way to reverse such rampant inequality is by implementing government measures aimed at balancing the playing field

Chief among those measures: Tax the rich and push for gender equality.


#2

"...removing the obstacles that prevent mothers from working..." Why? I grew up in an era when one member of the household provided the income. (I'm not saying women should be consigned to the home, but I am saying one of the partners at home with the children is something to be desired.) Women in this country went to work out of necessity, and in so doing, doubling the work force. Why? because the plutocrats made it impossible for a household to make it with only one income.


#3

i think inequality grows in economies based on usury and greed.


#4

This is a depressingly un-imaginative article.

Most annoyingly, it conflates economic growth with reduction in inequality, presenting both as more or less equally worthy goals. The fact is, we can't continue pursuing economic growth due to ecological limits, and yet reducing inequality is of paramount importance. So we need to have none of the former, and a lot of the latter.

There there is this gem, that somebody else already commented on: "The OECD recommends [among other things] removing the obstacles that prevent mothers from working". I'm all in favor of removing any such obstacles for mothers WHO WANT TO WORK, but, perhaps more importantly, I want to remove financial pressures to work for mothers, so that they can be truly free to choose whether to join the labor force in the formal economy, or to focus on motherhood (not all women will have the same inclination in this regard). Basic Income (google it if you've never heard of it) resolves all of these problems, for mothers as well as for all other categories of human beings. It would reduce inequality and not require economic growth; we already have a hyper-productive economy and further growth is no longer needed. On the other hand, growth is becoming increasingly harmful ecologically. Radically different ways of thinking are urgently needed; this article reflects a paradigm that's several decades old. Commondreams should aim to do better.


#5

"Chief among those measures: Tax the rich and push for gender equality."

The governing rich white male plutocrats will tax themselves when pigs fly. Why more guaranteed to fail propositions when we could have direct democracy?


#7

"Crowd control measures" against "civil unrest" keep moving closer to that scenario...


#9

Well, I am sure Americans will be happy to hear that Obama has decided to liberalize services with the rest of the world, as their long promised payback for globalization, since after all, it increases profits.


#10

In the globalization context, "leveling the playing field" these days usually is referring to corporations, versus other corporations, in other words, rich countries corporations must not exclude corporations from poorer countries by setting wages in the rich countries too high. Thats "Technical barriers to trade", alleged to be among the worst kinds of discrimination.

This essay, "Divide and Conquer" explains some of the main goals of FTAA c. 2006. Ideology of US trade policy has if anything become more neoliberal and inflexible under Obama than under GWB's presidency.

Get it?


#11

People who think that we'll return to a work centric society are ignorant of how rapidly technology is improving productivity so that humans do not have to work. People should do their best to save as much as they can within the next few years because the bar to employment is rising very quickly and not that far into the future there will be very very little work, even for the most skilled, unless its their specialty and they have really carved out their niche. basically as it has increasingly been in the sciences for quite some time.

So, assuming one member of the household is working its likely that member will be a computer. Because of Moore's Law, it doubles in ability every 18 months and can work 24 hours a day, seven days a week, for 30 years on just a few pennies of electricity, making literally billions of useful decisions every second. .

That changes everything.

Its not unlikely, unless we get a dialogue going now on how we will deal with this future, that we will be making all the wrong decisions especially on trade. In other words, it makes no sense to negotiate / trade away valuable middle class jobs that will never be replaced (In other words, retraining people will need to be quite comprehensive, i.e. engineering degree equivalent- or it will just end up being a lie.

Its the height of dishonesty to pretend that this is not being planned when anybody with an Internet connection can read about it.

Jobs and the social safety net are not expendable, to be monetized, people's livelihoods are not Mode Four bargaining chips to be traded for Mode Three trade concessions in "fast growing markets".

its especially evil to do this when its a bargain thats lkely to not bear any fruit on the export side either.

Asian and African markets are no longer as bakwards and technologically isolated as they were 30 or 40 years ago, in fact, Asian markets are in some ways ahead of our own in technology adoption. So, it seems obvious to me that it is pie in the sky. Those markets are going to hit the same "wall" on growth that mature markets like the US and EU are hitting now in just four or five years.

What they are proposing in TISA will excerbate the problems.

If they start globalizing service jobs, that will cause a race to the bottom on wages globally.


#13

Please! why does everyone refuse to see the wood in the trees?
There is one, and only one, cause of all our economic woes. During the early 1900's our stupid/corrupt politicians signed away our Sovereign "rights" , that allowed us to print and issue our own interest free, debt free money; and since then we have all become "debt slaves". Our rights to print and issue our own money out of thin air were ceded to private banking Corporations, thus now, we borrow all our money from them, and they simply print it out of thin air, and charge us interest for the privilege. Given the nature of our economic cycles, the booms and busts, it is virtually impossible for us ever to repay all such debts, especially since, when they print our borrowings, they do not also print the money to cover the interest repayments. This particular economic consequence was recorded centuries ago in the well known fable about the boy who possessed a goose that laid "golden" eggs; he sold the goose for a paltry sum and forever thereafter he was destitute.

The remedy for our problems is simple; we abrogate any agreement previously made, reclaim our Sovereign "rights" to print and issue our own debt free interest free money.

This will enable us to stop income-taxing of individuals; we may pay everyone that needs it a social wage, based on a break even computation, this will eliminate poverty and deprivation; those in receipt of the Social wage will be encouraged into employment, without loss of this Social wage, and to work for any employer for additional income, mutually agreed between them. this gives control of work and income to the "workman". Employers will gain a workforce of people willing to accept much lower wages than previously paid, thus making the employer production cost significantly lower; plus, the employer no longer collects taxes for the Government. The employer Corporation/business will pay tax annually as usual. The collection of V.A.T. or G.S.T., consumer taxes will cease.

All Government expenditures will be provided by the planned issue of our own debt free interest free money using legislation approved by Parliament. Health, Education, University courses, Infrastructure of all kinds, etc. etc.

Provided that all of these expenditures are actually "spent" into circulation they will not create inflation; inflation will occur, for instance, when too much money chases too few "goods". The Government must own and run it's own Bank, just like the original Commonwealth Bank. No Private Bank or Corporation will be permitted to create money, under any guise; our financial system will revert to one of "sound " money. Sound money is that which turns around sound borrowing and lending, controlled by being liquid cash, backed by the ownership of assets, and strict criteria keeping them in balance; borrowing and lending outside of these criteria, characterised as "high risk", will be permitted between parties willing to accept such risk, and then, only when it involves their own wholly owned assets.

Interest rates in the private sector will be set by the private sector. The floating exchange rate will be converted into "fixed" rates decided by Government, and as decided between Sovereign Nations and embodied in trade agreements. Our currency will not be traded on "Exchanges", our Nation will be immunised against the manipulated predations of the "Market".

The foregoing explains the broad brush strokes involved, but in summary we would have a Nation with little or no foreign debt, a Nation whose domestic economy sits on a solid unshakeable base, a Nation better able to compete in the wider World, a Nation without poverty whose peoples are empowered to think and work for themselves, a Nation rescued from the avarice of the "Money Lenders", and above all, a Government able to be free and Independent, instead of being owned by Corporate money and influence. This is named "The Universal Economy" because it will operate anywhere.

For those who doubt the efficacy of this proposal, I suggest they study the United States example. The clever banking Corporations engineered the U.S. dollar to be the Worlds reserve currency. Ever since the U.S. has been printing money out of thin air, the only Nation to do so, now they have military bases in more than one hundred and seven Nations, they have engineered regime change and wars in countless Nations, and recently have printed trillions of dollars, called quantitative easing, and poured it into foreign banks and financial Institutions trying to prevent the next meltdown; but it is not working because their printed money was not spent into circulation, instead it inflated the prices of shares and real estate, the bust cometh.