. . .Most of the nation’s economic growth over the past 30 years has gone to the top 0.1%. Inequality is now approaching the extreme level that prevailed prior to the Great Depression. . .
In fact, inequality is so high that a third of the population has no wealth at alland the top 0.1% owns as many assets as the bottom 90%.
Raw statistics are perfect tools for transmitting the truth of facts but they lack the emotional baggage that a story can deliver. There’s nothing better than tears, blood and immersive storytelling to mobilise people.
I’m unfortunately not very good at that, but I can still rephrase the statistics: if the US was a village of 1000 people, there’s 1 guy that has more money than 900 other villagers combined…
We can manipulate numbers and discuss hypotheses as much as we’d like: the reality is staggering. Research centers, in their vast majority and coming from all political backgrounds, have drawn the very same conclusion: the US is — by far — the most unequal society in the developed world. And things are getting worse every year. . .
Now a lot of us can cope with that if there are good chances of improving our situation. If my household’s finances are better than my parents’, the society I’m living in would have enhanced my well-being.
That’s actually one of the cornerstones of modern capitalism: inequalities are accepted as long as the possibility of betterment exists. We tolerate unfairness as long as there are good chances of improving our condition. (Read more from “The American Dream Is Dead” HERE)