Economic disparity

Overview

Economic disparity refers to a gap in income between (on the one hand) the wealthiest members of society and (on the other) those with the fewest economic resources.

Symptoms of severe economic disparity include:

• those at the highest income levels have wealth drastically out of proportion to the value or quality of their contributions to society
• a significant portion of the population is unnecessarily impoverished with respect to society's ability to provide a minimum level of welfare for all

Keywords: Richistan, income disparity, millionaires & billionaires

Countries

• United States
• United Kingdom

Links

Related

• 2014/04/22 [L..T] Tech-fueled inequality offers two paths for humanity – "digital Athens" or bleak dystopia “"It turns out there's no economic law that says everybody is going to share equally when technology brings some of these wonders to the planet," Brynjolfsson said. "It's quite possible for some people, even possible for a majority of people, to be made worse off in absolute terms."”
• 2014/04/21 [L..T] The government is a protection racket for the 1 percent “The evidence of income inequality just keeps mounting. According to "Working for the Few," a recent briefing paper from Oxfam, "In the US, the wealthiest one percent captured 95 percent of post-financial crisis growth since 2009, while the bottom 90 percent became poorer."”
• 2014/04/12 [L..T] Worse Than You Can Imagine: The Super Rich Are Hiding Vast Sums of Money "Two new studies have revealed the wealthy have even more wealth than anyone probably thought they did. A study by Emmanuel Saez and Gabriel Zucman has shown that income has only been increasing for the top one-thousandth, while another study by Gabriel Zucman shows exactly where that money is going."
• 2014/04/07 [L..T] If 97% of Americans Sold Everything They Owned and Spent It on Congressional Elections, They Still Couldn't Max Out To max out on one side of every race including PACs and parties would take $1,291,400. 97% of the country could not reach this limit if they emptied their bank accounts and liquidated all of their possessions. For a few lucky souls, however, $1.3 million is a drop in the bucket.
• 2014/03/29 [L..T] Impact of Massive Tax Cuts on Kansas Offers a Warning to Wisconsin "The massive tax cuts in Kansas have deepened the damage done to schools, colleges and universities, and other key services by the recession and have failed to improve Kansas's economic performance, according to a new report from the nonpartisan Center on Budget and Policy Priorities. Kansas should serve as a cautionary tale for Wisconsin, not a model."
• 2014/03/15 [L..T] Extreme Capitalism Depends on Government Subsidies, Corporate Welfare and Worker Insecurity "Capitalism has gone extreme due to pure, unadulterated GREED. Those that "have" (the 1%) want more for themselves and less for the "have-nots" (the 99%). All in the name of money and power."
• 2014/01/08 [L..T] Kentucky Democratic Congressional Candidate Goes Undercover And Finds A Broken Economy. Awesome! For the past couple months I worked for United Parcel Service, Louisville Kentucky, as an "air handler" loading and unloading cargo aircraft...
• 2013/09/10 [L..T] Technology and the Distribution of Wealth There is a question so important to the modern economy that it often hides in plain view. I'm talking about the role that technology plays in the distribution of wealth. This connection between our distribution of societal resources and our rapidly evolving technology centers on two fundamental phenomena: (1) The way technology displaces labor (2) The way technology concentrates profits

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• 2013-07-20 Richest 300 Persons on Earth Have More Money Than Poorest 3 Billion by Mark Karlin, via Bernie Sanders [1]
• 2012-05-08 The ratio of CEO to worker compensation: Are they worth it?