Top economists call for action on runaway global inequality - eviltoast
Gulf between rich and poor increases risk of climate breakdown as well as entrenches poverty, says letter to UN and World Bank

The letter says: “We know that high inequality undermines all our social and environmental goals. It corrodes our politics, destroys trust, hamstrings our collective economic prosperity and weakens multilateralism. We also know that without a sharp reduction in inequality, the twin goals of ending poverty and preventing climate breakdown will be in clear conflict.”

  • livus@kbin.social
    6·
    1 year ago

    I don’t quite see how a reduction in global poverty would hurt poor people though.

    In economic terms inequality actually hurts everyone. Recessions last longer, there is more stagnation, more unrest, and interestingly there are effects like worse health outcomes even for the rich in a highly unequal society.

    • enkers@sh.itjust.works
      81·
      1 year ago

      Because in the long term, their interest is to give up as little as possible to maintain the status quo. They’re not actually interested in the harm that economic inequality causes to poor people, only in walking back from the harm a mass unrest event would potentially cause them.

      • livus@kbin.social
        6·
        1 year ago

        Well, Thomas Piketty is one of the signatories, so…

        The thing is though that there has been a massive shift in the last decade from the old “Establishment” having power, to the phenomenon of Disaster Capitalism.

        Disaster capitalists thrive on things like mass unrest. They will do everything in their power to continue down this track. And right now they have the upper hand.

      • OldWoodFrame@lemm.ee
        41·
        1 year ago

        If we’re needlessly overthinking, I must point out that by rejecting a call to reduce global inequality because you suspect it doesn’t go far enough…you’re siding with / helping the people who DON’T want to reduce global inequality.