How bad has wealth inequality become in the US? Thanks to a video that is becoming viral, a new discussion about inequality has fired up – sadly, just after our election cycle. It takes off from work done 6 months ago by Dan Ariely and Mike Norton, first reported humbly in a simple blog. But thanks to new graphics and explanation it’s lighting up the ‘net in a way not seen before.
As discussed previously, income and wealth inequality is the best indicator of a future slowdown in economic growth around the world. More attention to this problem is certainly a good thing. But the context of how this comes to be and what can be done about it remains elusive. Let’s take a long view and see where the problem came from – and what can be done about it as we work to set up the next period of expansion that comes after the Managed Depression we are in now.