“Poverty wastes people’s potential, depriving our society of the skills and talents of those who have valuable contributions to make. This drags down the productivity of our economy, hinders economic growth, and reduces tax revenue.” The Joseph Rowntree Foundation sets out an economic case for increasing income equality (BBC)…
Meanwhile, many of those at the top are only interested in increasing their own wealth… “This year, a succession of chief executives have taken home eye-watering pay packets worth many millions despite the companies they head performing poorly” (Daily Telegraph)
“The simple truth is that a country as unequal as ours is not just imperfect, it is practically ungovernable. How do you develop coherent policies for people so separated by their economic circumstances that they may as well be living on different planets? Extreme inequality is not the basis for a cohesive, happy, healthy society, and it is why politicians from all sides are rightly acknowledging it as a problem in dire need of solutions.” (The Equality Trust)
Did someone say solutions?
Despite warnings to the contrary, “employers have responded to the new National Living Wage (NLW) by raising prices or reducing profits rather than cutting jobs, according to a survey from the Resolution Foundation.” (BBC)
“Increasing wealth requires that a large (and growing) part of the world’s population is indebted. When one population reaches debt saturation point – they cannot or will not take on any more – those who want to create financial wealth move on to another, less indebted population. Rising debt for many, rising wealth for a few … If we are to create a more equal world, and reduce the risk of financial meltdown, we need to cure ourselves not only of our love of debt, but of our love of wealth.” (Open Democracy)
Equality in the Pub!
Wednesday 3rd August, from 7pm, The Rutland Arms, 86 Brown St, Sheffield, S1 2BS
We have our regular summer meet-up in the pub. We’re at the Rutland Arms again for some beer, chat about making the world a better place, and (possibly) a bit of playing of the best equality game this side of the IMF. All welcome.