Global Views of Economic Opportunity and Inequality | Pew Research Center’s Global Attitudes Project

English: Banks Furious As Shares Tumble, Eveni...

English: Banks Furious As Shares Tumble, Evening Standard, London, UK, 7 October 2008 (Photo credit: Wikipedia)

This is an outstanding article with excellent graphics from Pew Research. It’s a must-read. Check it out!

via Global Views of Economic Opportunity and Inequality | Pew Research Center’s Global Attitudes Project.

Since the 2008 financial crisis, with many governments fixated by excessive austerity, capitalism has been under attack – the wealthy & privileged have gone from strength to strength, yet the working and middle classes have stagnated or suffered under savage austerity. Yet the evidence is that in most parts of the World, capitalism is still the best game in town. There are exceptions of course, like Argentina – but the exceptions tend to have had their own political, economic and social challenges.

Thoughts?

One response

  1. Dr Alf raises the conundrum of the age, namely how to create growth and jobs and a more equal society at the same time.

    Germany and Norway seem to manage this, with gaps between those at the top and those on average pay being circa 12 to 1.

    The gap in the UK between the overall pay of a Times 1000 CEO and a person on average pay(£27,000 gbp) is now 300 to 1, as pay for these CEOs is around £8.2 million gbp including bonuses and other “emoluments” which are paid regardless of whether the CEO in question has succeeded, over-performed, been sacked, failed miserably or been made to spend “more time with his or her family”.

    The gap in America between Fortune 500 CEOs and ‘Joe Six-pack’ is up to 1000 to 1 and in both countries the gap is growing.

    We need to look at the need for social cohesion and sensible tariffs on imports, rather than unfettered free trade and at how we can create more export led businesses to replace non-jobs in the public sector and those displaced by robotics, automation, expert systems, ageist employers, cybernetics and 3D printing.

    This will require up-skilling, language teaching via Pimsleur methods, the teaching of selling, social media marketing and NLP.

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