Unparalleled Levels of Inequality Is Killing Our Economy and Society
by Washington’s Blog
September 24, 2011
Conservatives Worry That Runaway Inequality Will Destroy The Economy and Society
Conservatives and Liberals Agree: Unparalleled Levels of Inequality Is Killing Our Economy and Society
Leading economists agree that rampant inequality leads to unstable economies and depressions, and makes the middle and lower classes poorer.
While the stereotype is that liberals care about inequality and conservatives don’t, that is actually a myth.
As Canada’s conservative National Post – Canada’s 9th biggest newspaper – noted Wednesday:
According to the voice of Canada’s business establishment: “High inequality can diminish economic growth if it means that the country is not fully using the skills and capabilities of all its citizens or if it undermines social cohesion, leading to increased social tensions. .
A mounting body of research shows that, left unchecked, a growing income gap affects the rich, the poor and everyone in between.
No matter your political leanings, most people understand that endless concentration of income, wealth and power is bad for the economy. After all, businesses rely on rising purchasing power of the many, not the few, to deliver growth and profits.
No one knows the tipping point, but lock enough people out of the promise of gains and at some point, instead of stability and growth, you get social unrest.