As the law of money inexorably structures a society - whether a city, a nation, or, significantly at present, the residents of the whole globe - there are risers and fallers, winners and losers.
But the law persists: Money goes where money is. The rich get richer and the poor get poorer
Here's a statistic, which puts numbers on this point.:
"Between 1980 and 2014 the bottom 50% of post tax incomes in America increased by just 21%. compared with 113% for the top 10%. But the top 1% rose even more - by 194% - while the top 0.001% rose by 617%. " (The Economist: April 6, 2019)
And here''s historical footnote: Device to remove the top 0.001%, used judicially -1789ff. - to reverse the law of money temporarily. We might call it decapitalization.
Here's a statistic, which puts numbers on this point.:
"Between 1980 and 2014 the bottom 50% of post tax incomes in America increased by just 21%. compared with 113% for the top 10%. But the top 1% rose even more - by 194% - while the top 0.001% rose by 617%. " (The Economist: April 6, 2019)
And here''s historical footnote: Device to remove the top 0.001%, used judicially -1789ff. - to reverse the law of money temporarily. We might call it decapitalization.
Well, actually, it was a short term solution for a few of them..
"Short term solution."
ReplyDeleteGroan.