24 Oct '11, 11am

Ten Reasons to Care About Economic Inequality

Inequality matters. We often hear politicians talk about ‘tackling poverty’ and the need to improve ‘social mobility’ but economic inequality lies at the heart of both these phenomena and much more. Here are ten reasons to care about economic inequality (in no particular order): Your pocket. As social beings we constantly compare ourselves to others, especially those who are better off. In an effort to keep up with what the rich have we exhaust and exceed our household resources and get into debt. Your talent (and your pocket again). The wealthy have more collateral to invest in their education and ideas. As there are only so many places at top universities, this locks in their success, and leaves less room at the top for everyone else. The economy (and your pocket for the third time). Inequality is bad for the economy. It impacts on tax-take, entrepreneurialism, and it wa...

Full article: http://www.neweconomics.org/publications/ten-reasons-to-c...

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