Wealth inequality in the UK

Inequality has been rising for 30 years.  The gap between rich and poor is the widest since the second world war.  If current trends continue, we will have reached Victorian levels of inequality in 20 years.’

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Wealth inequality in the UK

Hat-tip Richard Murphy

9 thoughts on “Wealth inequality in the UK

  1. Good video but I think the careful culturing of public attitudes (by the right-wing media and Tory propaganda, amongst others) have undermined much of the British public’s attitudes concerning fairness and compassion.
    My personal belief is that information like this is only effective if it demonstrates the pernicious effect on society of that wealth imbalance (Richard Murphy ably demonstrates this in ‘The Courageous State’, by pointing to the conclusion of the IMF that the 2008 financial crisis came as a direct result of that imbalance).
    As a working class man living in a provincial Midlands town my experience is that most of the people I speak to do not have the economic tools to counter, or even question the pro-austerity propaganda they are bombarded with on a daily basis.
    If video material like this is to be truly effective it must link the reality of our unjust society with the deleterious effects on the nation.

  2. Yes – the video makes the point very clearly but I agree with Martin Snell above.

    On a different, less party political, tack, The Spirit Level: Why More Equal Societies Almost Always Do Better by Richard Wilkinson and Kate Picket gives a far reaching comparative analysis based on surveys in the majority of developed countries, reviewing the effects of the various levels of inequality within and between countries around the world. Here’s a trailer http://www.indiegogo.com/projects/the-spirit-level-documentary

    • I have to admit I’d forgotten about ‘The Spirit Level’, but yes, it presents a well-reasoned empirical case for egalitarian socio-economic policy. Of similar worth is ’23 things they don’t tell you about capitalism’ by Cambridge economist Ha Joon Chang. Korean born Chang is able to draw directly on his experience of his mother-country (and other tiger economies) in order to make comparative analyses with prevalent Western models, in the process destroying many of the myths of the neo-liberal agenda. (I should add this is a book about the flaws in neo-liberal economic thinking, not a party political broadcast, and a very absorbing read to boot).

  3. Yes – the video makes the point very clearly. However, I agree with Martin Snell it would be more effective if the effects of this were highlighted as it is so easy to lapse back into apathy and a trust in good British justice. On a different, less party-political tack than The Courageous State, the Spirit Level:Why More Equal Societies Almost Always Do Better by Richard Wilkinson and Kate Pickett presents a comparative analysis of the effects of inequality on the majority of developed countries, both between and within countries . This includes physical and mental health, mortality rate, crime rates etc.. Here is a trailer http://thespiritleveldocumentary.com/

  4. Pingback: #Wealth #Inequality in the #UK #Poverty | johndwmacdonald

  5. Pingback: #Wealth #Inequality in the #UK #Poverty | johndwmacdonald

  6. I have to admit I’d forgotten about ‘The Spirit Level’, but yes you’re right, it does advance a very convincing empirical argument for an egalitarian socio-economic policy-base.
    In a similar vein the excellent ’23 things they don’t tell you about capitalism’, by Cambridge professor of economics Ha Joon Chang highlights the paucity of neo-liberal socio-economic thinking in this area. I should add that this is a thoroughly engaging read by an avowed Capitalist who defends Capitalism whilst taking issue with the Neo-Con agenda. The Korean born author uses examples from various world economies to highlight why the untrammelled trajectory of neo-liberal economics is damaging every nation where it holds sway.

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