06-13-2015, 04:34 AM
Income inequality is a global phenomenon. While the 1% take an increasingly outsized share of that gain, it's dwarfed by the transfer of wealth from our poor/middle class to the poverty class of other countries.
Some would say that's the greatest aspect of global capitalism, while others would say it's the greatest failing. The problem, as I've said before, is that the purchasing power lags the earning power - which is a disproportionate transfer of consumer surplus to the wealthy and, in fact, is a consumer deficit (in the short-term).
Some would say that's the greatest aspect of global capitalism, while others would say it's the greatest failing. The problem, as I've said before, is that the purchasing power lags the earning power - which is a disproportionate transfer of consumer surplus to the wealthy and, in fact, is a consumer deficit (in the short-term).
