Does inequality in the distribution of income increase or decrease in the course of a country's economic growth?
Simon KuznetsRead
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126 quotes
Does inequality in the distribution of income increase or decrease in the course of a country's economic growth?
Inequality also distorts our democracy. It gives an outsized voice to the few who can afford high-priced lobbyists and unlimited campaign contributions, and runs the risk of selling out our democracy to the highest bidder. And it leaves everyone else rightly suspicious that the system in Washington is rigged against them - that our elected representatives aren't looking out for the interests of most Americans.
All social inequalities which have ceased to be considered expedient, assume the character not of simple inexpediency, but of injustice, and appear so tyrannical, that people are apt to wonder how they ever could have. been tolerated; forgetful that they themselves perhaps tolerate other inequalities under an equally mistaken notion of expediency, the correction of which would make that which they approve seem quite as monstrous as what they have at last learnt to condemn.
I maintain that the period during the first half of the 1990s, the period in which rising inequality reached its peak, was a period in which we came very, very close to a demagogic immobilization of racism in this society.
We need to invest in healthcare, in education, in the sciences. And in so doing, we will tackle one of the most intractable problems we face, which is gross wealth inequality. We can't fight climate change without dealing with inequality in our countries and between our countries.
Wherever there is great property there is great inequality. For one very rich man there must be at least five hundred poor, and the affluence of the few supposes the indigence of the many. The affluence of the rich excites the indignation of the poor, who are often both driven by want, and prompted by envy, to invade his possessions.
The default of our society is the reproduction of racial inequality. I mean, that's what it does; that's what it's been doing for hundreds of years.
Prisoners do matter when analyzing the severity of racial inequality in the U.S. Yet because they are out of sight and out of mind, it is easy to imagine that we are making far more racial progress than we actually are.
Building capacity dissolves differences. It irons out inequalities.
The polls show that concern over inequality among the general public rose pretty sharply after the Occupy movement started, very probably as a consequence. And there are other policy issues that came to the fore, which are significant.
You have to understand the role the landlords are playing in shaping neighborhoods, how they potentially expand or reduce inequality, how their profits are a direct result of some tenant's poverty.
Some people say we have this inequality because some people have been contributing much more to our society, and so it's fair that they get more. But then you look at the people who are at the top, and you realize they're not the people who have transformed our economy, our society.
Some degree of inequality in income and wealth, of course, would occur even with completely equal opportunity because variations in effort, skill, and luck will produce variations in outcomes.
Inequality reigns in horrifying ways, and not everyone can even read, but the world of media and advertising withholds very little from the imagination of the dispossessed.
As income inequality increases, the social and political sway of those at the very, very top grows, too. They are nearly all men, and men whose lived experience tells them that women, for whatever reason, just don't have what it takes.
In the same way that Occupy Wall Street forever elevated that concept of income inequality, the Black Lives Matter protesters have elevated the idea of inequity in policing as it relates to minority communities.
When inequality gets too extreme, then it becomes useless for growth, and it can even become bad because it tends to lead to high perpetuation of inequality over time and low mobility.
Inequality causes problems by creating fissures in societies, leaving those at the bottom feeling marginalized or disenfranchised.
We live in an interconnected world, in an interconnected time, and we need holistic solutions. We have a crisis of inequality, and we need climate solutions that solve that crisis.
The antidote to inequality is equality. The question is how do you achieve equality? I believe that, for business, which is where I can speak, we have to shift from shareholder maximization to stakeholder maximization.
As long as inequality and other social problems plague us, populists will try to exploit them.
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