Income inequality is one of those things that we find almost impossible to talk about in US politics. Simply raising the issue automatically leads to charges of “class warfare”, a term that is empty enough in meaning to raise emotions without much intellect. Yet it is important.
One of the great features of recent global economic turmoil is the downturn in the developed world amid continued growth in the developing world. What’s the main difference between the two? According to a survey by the Economist, one of the main features is that the developing world generally has increasing income equality but the developed increasing inequality. Emotional arguments aside, there is a distinct trend that raises real questions of global competitiveness, at the very least.