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CET Money is finite. The world is a closed system. In order do make huge amounts of money, you have to take it from somewhere. You do not generate this money out of nowhere.
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#wealthdistribution
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I made some extra annotations to this chart I saw today. To me lumping the 50-99% together obscures some important distinctions
Original chart and links to data sources here. https://www.voronoiapp.com/wealth/-About-1-Million-US-Households-Hold-Nearly-50-Trillion-in-Wealth-4203
Gary Stevenson is worth your time:
What is wealth?
What is wealth inequality?
Why is inequality Ignored?
Inequality is driving everything.
YouTube: https://youtu.be/bReS9FLpgT4
Am also thoroughly enjoying his book, The Trading Game: A Confession. https://bookshop.org/p/books/the-trading-game-a-confession-gary-stevenson/20264126?ean=9780593727218&next=t&next=t
Gary Stevenson: Why Left and Right Economic Policies Are Doomed to Fail
Gary Stevenson, a former Citibank trader turned inequality expert, delivers a hard-hitting two-part series exposing why both left- and right-wing economic policies are bound to fail. After making a fortune predicting economic downturns, Stevenson realized that rising inequality is the root cause of economic dysfunction. Now, he’s breaking down how mainstream policies—regardless of political affiliation—fail to address this growing crisis.
In Part 1, Stevenson dissects Labour’s economic approach, which he calls “managed sensibilism.” Their plan? Borrow a little more, tax a little more, and invest a little more—an approach that economists praise but one that has already failed in the U.S. and Germany. While GDP growth and unemployment figures look strong, ordinary people are struggling with rent, bills, and even food. The real issue is inequality—and Labour, like Biden’s Democrats, is ignoring it.
Instead of taxing the wealthy, Labour will either borrow from them—an increasingly difficult task—or raise taxes on working people, making living standards even worse. And with the UK in a much weaker borrowing position than the U.S., their strategy is set to fail even faster. The rich continue to absorb wealth like a black hole, while the middle class shrinks and the poor fall deeper into financial despair.
This episode lays the groundwork for Part 2, where Stevenson will examine the right-wing economic model and why it, too, is destined to collapse.
Watch now and join the discussion—are Western economies trapped in a cycle of failure, or is there a real way forward?
#Economics #Politics #Inequality #GaryStevenson #WealthInequality #FinancialCrisis #MiddleClassCrisis #CostOfLiving #RichGetRicher #EconomicJustice #TaxTheRich #WealthDistribution #GlobalEconomy #UKPolitics #USPolitics #EconomicGrowth #GovernmentFailure #MoneyMatters #PoliticalEconomy #IncomeDisparity #SocialJustice
Gary Stevenson, a former Citibank trader turned inequality expert, delivers a hard-hitting two-part series exposing why both left- and right-wing economic policies are bound to fail. After making a fortune predicting economic downturns, Stevenson realized that rising inequality is the root cause of economic dysfunction. Now, he’s breaking down how mainstream policies—regardless of political affiliation—fail to address this growing crisis.
In Part 1, Stevenson dissects Labour’s economic approach, which he calls “managed sensibilism.” Their plan? Borrow a little more, tax a little more, and invest a little more—an approach that economists praise but one that has already failed in the U.S. and Germany. While GDP growth and unemployment figures look strong, ordinary people are struggling with rent, bills, and even food. The real issue is inequality—and Labour, like Biden’s Democrats, is ignoring it.
Instead of taxing the wealthy, Labour will either borrow from them—an increasingly difficult task—or raise taxes on working people, making living standards even worse. And with the UK in a much weaker borrowing position than the U.S., their strategy is set to fail even faster. The rich continue to absorb wealth like a black hole, while the middle class shrinks and the poor fall deeper into financial despair.
This episode lays the groundwork for Part 2, where Stevenson will examine the right-wing economic model and why it, too, is destined to collapse.
Watch now and join the discussion—are Western economies trapped in a cycle of failure, or is there a real way forward?
#Economics #Politics #Inequality #GaryStevenson #WealthInequality #FinancialCrisis #MiddleClassCrisis #CostOfLiving #RichGetRicher #EconomicJustice #TaxTheRich #WealthDistribution #GlobalEconomy #UKPolitics #USPolitics #EconomicGrowth #GovernmentFailure #MoneyMatters #PoliticalEconomy #IncomeDisparity #SocialJustice
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@The_Sun
All good points. And, since the NEM is a private (mostly) market it all makes sense from the investors and shareholder perspective. My beef is this: there are services which should not be left in the hands of capitalists - health, energy, education and housing come to mind - without a heavy dose of regulations which include price controls geared to the benefit of all citizens.
Public services (whatever they are) can function just as well as profit seeking corporate businesses provided they are at arms length from politicians and answerable to some legal constraints. Ther are various models for doing this and I am more than sure that some of these work better than competing profit driven capitalist structures! Such is my opinion which, surely, is supported by historical examples.
Capitalism only works when there is equitable distribution of wealth in the society. Sadly, current times clearly show that equal opportunities and equitable wealth is not an ideal sought by corporations or oligarchs.
“The United States could be a society of mass affluence. But in the absence of a mass political movement in favor of redistribution of inclusive growth, the trend toward ever more zero-sum, extractive economic relations is set to continue unabated — until it won’t.”
#Politics #USPolitics #Economics #Tariffs #WealthDistribution #ElectionsMatter #DemocracyVsOligarchy #DemocracyMatters #EconomicPopulism #WorkingClassPolitics #BillionairesShouldNotExist
https://jacobin.com/2025/01/tariffs-nonsolution-trump-social-crisis/
jacobin.comTariffs Are a Costly Nonsolution to the US’s Social CrisisDonald Trump has touted his planned tariffs as a way of protecting American workers. They’ll do little to reverse industrial decline but will drive up costs for the average American.
Wealth inequality reaches new heights: What the data says about America’s future https://www.psypost.org/wealth-inequality-reaches-new-heights-what-the-data-says-about-americas-future/?utm_source=dlvr.it&utm_medium=mastodon #WealthInequality #EconomicJustice #IncomeGap #SocialImpact #WealthDistribution
Act Out Tees is where creativity meets self-expression
https://actouttees.wixsite.com/act-out-tees
#TaxTheRich #Equality #Justice #FairTaxation #EconomicJustice #WealthDistribution #SocialChange #PowerToThePeople #Activism #FightForChange #WealthInequality #StandUp #Reform #EqualityForAll
While common #Indian is toiling to make ends meet and being divided across caste and religion lines by our politicians, the Indian billionaire's are having the last laugh. They keep amassing more and more wealth.
#inequality #wealthdistribution
There is one maybe minor caveat:
"Let them eat cake"¹
may actually work today (for many, even if not in top 10%).
(But yeah, that "#WealthDistribution thingie" should be dealt with more seriously.)
via @kcarruthers
Mastodonkcarruthers (@kcarruthers@mastodon.social)Attached: 1 image
Just saying…
Impressive #datavis on #wealth distribution by Matt Korostoff, brought to me by my colleague Cagatay Turkay
https://mkorostoff.github.io/1-pixel-wealth/
The more you scroll, the better understanding of #inequality and how most humanitarian problems could be solved with just a fraction of wealth from the top billionaires (while them still being billionaires). Also, the more frustrated you get. But probably this is how you should feel, too
For an #equitable #WealthDistribution
mkorostoff.github.ioWealth, shown to scaleWealth inequality in the United States is out of control. Here we visualize the issue in a unique way.
Sanders Unveils Bill to Tax Corporations Paying CEOs 50 Times More Than Workers
Truthout · Sanders Unveils Bill to Tax Corporations Whose CEOs Are Paid Over 50 Times Median Worker PayIn 2022, the top 350 U.S. firms had an average CEO to worker pay ratio of 345 to 1.
Make America Mad Again—Mad About the Trillions of Dollars Taken From Them by the Very Rich
Common Dreams · Make America Mad Again—Mad About the Trillions of Dollars Taken From Them by the Very RichThe 40-year trickle-down delusion, fashioned by right-wing economists, politicians, and financial experts, has deprived average Americans of the means to support their families in a comfortable, debt-free manner. It was planned. It's insidious. It's ongoing. And it should outrage every last one of us.
Simple solution: we need an estate cap.
Tax all inherited wealth over, say, $1B at 100%. Pick a number. Problem solved.
The Guardian · Next generation of billionaires collect more wealth from inheritance than work, says UBS
1/? #Introduction post - I'm not new to the #Fediverse or hosting, but this is a new instance. I'll repoint others shortly.
I am a #Socialist (there are numerous flavours of them in the US), not a #tankie and firmly against the same.
I believe in #EqualJustice #EqualRights and that everyone should enjoy the same privileges enjoyed by this white male, _at minimum_.
We do not have a #scarcity problem, we have a #WealthDistribution problem.
The true outrage isn’t that there are billionaires who don’t pay federal income taxes but that, in our allegedly “civilized” society, billionaires even exist.
#BILLIONAIRES #WealthDistribution #WeAllInheritTheEarth #SocialContract #FeedNeedNotGreed #wealth #avarice #greed #excess #indigence #poverty #need
#ChatGPT #Midjourney #DALLE #AI #SocialJustice #WealthDistribution #ResourceManagement [experiential human resources, that is!]
Bernie Sanders: Billionaires Shouldn’t Exist
https://jacobin.com/2023/05/bernie-sanders-chris-wallace-billionaires-tax-capitalism
Hashtagfornewssource: #Jacobin1. #BernieSanders2. #BillionairesShouldntExist3. #TaxTheRich4. #Capitalism5. #IncomeInequality6. #WealthDistribution #Politics #News
jacobin.comBernie Sanders: Billionaires Shouldn’t ExistIn a recent interview, Bernie Sanders was forced to defend his position that billionaires shouldn’t exist to an exasperated Chris Wallace. Sanders is absolutely right: a humane system wouldn’t produce such dramatic disparities in the distribution of resources.
This is the epitome of inequality in wealth distribution. Some people go hungry while others, well, you’ll see…