McQuaig: Inequality bad for health and economy

From an interview published today in The Tyee: McQuaig: Inequality Bad for Health and Economy.

"First, we've seen a dramatic increase in inequality. Over the past 30 years, all income growth has gone to the top. Middle-class family income has been stuck, while the income growth has been explosive the higher up you go. 

"Second, people have been aware of this general trend, but they assume it's the result of technological change, or globalism, or meritocracy -- that unlike the days of inherited wealth, the people at the top have now earned their wealth. In our book, we show that the rich have gained control of the political agenda and rigged the rules. 

"Third, we have to understand how damaging this is to society. Even a lot of progressives say we should focus on poverty, because it looks like envy if we criticize the rich. But the evidence of damage is overwhelming: Bad health, bad social outcomes like drugs and teen pregnancy, and a negative impact on the economy. Inequality is a recipe for stagnation and speculation."

Comments

[Tom Rees]

Income Disparity Makes People Unhappy -

http://www.psychologicalscience.org/index.php/news/releases/income-disparity-makes-people-unhappy.html