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Is wealth inequality causing the big issues of our day?

(229 Posts)
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Whitewavemark2 Thu 21-May-26 08:33:17

One of the constant headlines we see is about the vast difference in wealth, its accumulation and the power it brings.

We are more than aware of the ability to “buy” votes either through the direct funding support of political parties or individuals are the ability to buy social media advertising etc through individual influencers or as is becoming more the case through “bots”

We also are becoming more and more aware that world crises like the Iran war, covid etc are putting vast wealth into individual hands, whilst 95% of the world population finds life harder and harder, with essentials like decent housing, warmth and indeed good harder to afford.

So crises rather than being disastrous for everyone, is definitely not a crises for those most wealthy, who are able as a result of Q/E, acquisitions of assets snd other mechanisms to accumulate more and more. This results in the inflation of asset prices and things like housing become more and more unaffordable to those on ordinary incomes. The world crises becomes a crises for ordinary folk, which does not go away once the world crises is over, because the inequality in wealth has got even wider.

I think that the argument for a proper wealth tax is becoming more and more essential. I recognise that it will not resolve all the issues, but it can be done, and done very successfully. Norway and Switzerland are good examples.

We are talking about the top 1-5% here - definitely not in GN territory😄😄

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David49 Mon 25-May-26 09:12:06

M0nica

David49

There are wealth hoarders but most are offering products that we all buy, through advertising they convince us that we need their product. Whether it is cars, clothes or electrical devices, advertising comes to us on our devices continually.
It's irresistible to most.

I get few adverts on my computer. I have an ad blocker. I also spend very little time on social media. GN and Facebook, sum up my use of social media.

To me a computer is and will always be - a tool - to be used when reuired, but otherwise not. When I shop online, as soon as the follow up emails start, I unsubscribe.

It is up to peole to make command of the technology in their lives, not let technology control their lives.

A tool when required.
Im sure we all try to reduce advertising, Facebook is a nightmare for advertising, now many websites you have to pay for if you exclude adverts. TV programmes are sponsored as well as advertising breaks

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David49 Mon 25-May-26 09:27:07

Whitewavemark2

The problem with that theory is that to reduce inequality, you need to grow the economy quicker than the wealthy can hoover up the assets, and that has not happened for ever as far as I can see.

It's up to the government to tax the gains made from growth but if the government does not stimulate growth it's not going to happen.
Thats been irrelevant for decades because governments havnt stimulated growth for decades it's been easier to import, now we are paying the price

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Farzanah Mon 25-May-26 14:03:18

Growth of extractive wealth. The UKs billionaire wealth has become increasingly extractive over the last 35 years.^More and more billionaires and their wealth come from sources that contribute nearly nothing to the economy but add growing costs to the areas of the economy that do
From the Equality Trust.

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