Raging Inequality May Cause Unrest and Violence In America and the Rest of Western World
by George Washington
Preface: While conservatives are against redistribution of wealth and liberals want to tax the affluent, conservatives and liberals, the affluent and the less well-heeled should all agree that we have to stop the surge in inequality from rising further:
•As Robert Shiller said in 2009:
And it’s not like we want to level income. I’m not saying spread the wealth around, which got Obama in trouble. But I think, I would hope that this would be a time for a national consideration about policies that would focus on restraining any possible further increases in inequality.
•The father of modern economics – Adam Smith – didn’t believe that inequality should be a taboo subject
•Warren Buffet, one of America’s most successful capitalists and defenders of capitalism, points out, “There’s class warfare, all right, but it’s my class, the rich class, that’s making war ….”
•Conservatives – as well as liberals – are against rampant inequality. But all Americans underestimate the amount of inequality in our country
And while I am not calling for violence, I wonder if this is like South Africa at the end of the Apartheid era, where those in power had to hand over the reins to the majority to prevent violence.