Wealth concentration
by Vinay Gupta • May 21, 2008 • The Global Picture • 0 Comments
The crisis has focused attention on the obscene inequities of this era – the world’s 1,100 richest people have almost twice the assets of the poorest 2.5bn.
http://us.ft.com/ftgateway/superpage.ft?news_id=fto051520081439544376&page=2
My contention has always been that wealth concentration of this kind requires and implies the political oppression, usually implying force, of those on the losing end of the deal. Some of it is in the very structure of the State, which can rob the poor to give to the rich, and does so through mechanisms like government contracts and the entire patent system. Copyright, too, serves to unnecessarily concentrate wealth in the hands of the few. How to do better… watch this space.