LehmanB wrote:The gap is even higher among communist countries
The gap is indeed a factor. I agree with the discussing topic. Just wanted to add that the factor of well being was improved too. So we will look at what we have, and not just what others have. And it doesn't contrast the fact that gaps do create problems, just we have to extend the frame of talking beyond gaps alone. We can eliminate gaps but lower the well being for everyine- is this worth it? Without this parameter that was ignored in this filmed, the discussion is misleading
You are invalid in everything Lehman. You are. Gaps that are huge and exaggerated all it creates are either two things: Conditions in society that lead to decay in terms of not enough taxes collected to keep infrastructure sound....which is what one sees now in many places in the USA. Second, according to many who know economics a very wealthy man or woman in the top 1% can only consume a limited amount of products, services as an individual person with an army of servants and his or her entourage and they mostly SIT on the money they have. It doesn't circulate as it would with many many thousands or millions of people using services and products in much more modest amounts. That means it shrinks consumption and spending and it doesn't circulate wealth. That is detrimental as well.
In general? Lack of an even distribution of wealth is problematic in terms of it wastes human labor, potential and it keeps an ever increasing pool of potentially productive workers in constant poverty due to lack of investment in things that work for return on the dollar. You invest in preschools and head starts? Has a huge return on the dollar in lack of dropouts in the end....you invest in helping families? You get more productivity in many households. You invest in free state university educations and you don't burden people in their early twenties with thirty years of heavy debts without the ability to buy property or have kids themselves? You will have a halt in new workers replacing old and retired workers, a halt in people getting married, a halt in people being able to raise families, and eventually it will hit the skids in terms of debt outweighing opportunities. There is the inability to be solvent.
That is economic realities. But? Unless something is dealt with in terms of coping with wealth inequality? The profits will peter out and capitalism will also suffer. The trend is not going to be tiny amount of people controlling everything and consuming very little and sitting on the money.....it is going to be 'to hell with the tiny percent and release the funds in mass amounts to most people.' It will get that bad. But the people who hate 'redistribution of wealth' are so brainwashed and intransigent even though they are part of the majority of those who don't get enough of the wealth. They believe they will be the winner of the lotto ticket of powerball of 456 million dollars, even though the odds are astronomically against them. That is how casino capitalist notions of keeping the workers, middle class and even professional class swimming in less and less cash. Lies. That is all that is. Lies. But people believe it.