Inequality — the bubonic plague of modern society

16 Feb, 2014 at 14:41 | Posted in Economics, Politics & Society | 3 Comments

Inequality continues to grow all over the world — so don’t even for a second think that this is only an American problem!

In case you think — like e. g. Paul Krugman — that it’s different in my own country — Sweden — you should take a look at some new data from Statistics Sweden and this (Swedish) video.

The Gini coefficient is a measure of inequality (where a higher number signifies greater inequality) and for Sweden we have this for the disposable income distribution:
SwedenGini1980to2011            Source: SCB and own calculations

What we see happen in the US and Sweden is deeply disturbing. The rising inequality is outrageous – not the least since it has to a large extent to do with income and wealth increasingly being concentrated in the hands of a very small and privileged elite.

Societies where we allow the inequality of incomes and wealth to increase without bounds, sooner or later implode. The cement that keeps us together erodes and in the end we are only left with people dipped in the ice cold water of egoism and greed. It’s high time to put an end to this the worst Juggernaut of our time!


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