The changes that people need start with people changing how they participate in business, politics and community. The business and political leaders have long ignored the declining prosperity of hard working people, and allowed corporations to be the only voices heard. People have stayed hopeful, working more jobs for less income, and kept quiet by big screen TVs and fancy cell phones.
But now it’s clear that widespread prosperity isn’t coming soon, and that the people with the most money and power want even more of it.
The world needs more people involved and active in the issues and organizations at every level: city, province, state and country, to ensure that the needs of people are factored more seriously into business decisions and political plans. That takes people exploring the possibilities, sharing their skills and concerns, and working together for an inclusive economy and a safe environment.
Harvard philosopher T. M. Scanlon offers four key reasons why we should fix the problem of Financial Inequality.
1) Economic inequality can give wealthier people an unacceptable degree of control over the lives of others.
If wealth is very unevenly distributed in a society, wealthy people often end up in control of many aspects of the lives of poorer citizens: over where and how they can work, what they can buy, and in general what their lives will be like.
2) Economic inequality can undermine the fairness of political institutions.
If those who hold political offices must depend on large contributions for their campaigns, they will be more responsive to the interests and demands of wealthy contributors, and those who are not rich will not be fairly represented.
3) Economic inequality undermines the fairness of the economic system itself.
Economic inequality makes it difficult, if not impossible, to create equality of opportunity. Some will enter the workforce much better prepared, and people with few assets find it harder to access the first small steps to larger opportunities.
4) Workers, by cooperating to produce national income, have a claim to a fair share of what they have helped to produce.
If an economy is producing an increasing level of goods and services, then all those who participate in producing these benefits — workers as well as others — should share in the result.
Click here to read the article.
It isn’t just kids that are getting addicted to screens. We are encouraged (and expected) to use our iPads, phones and TVs. It’s hard for people to understand how curiosity leads to wasted potential. There is always one more webpage to look at, one more tweet to send, and one more TV series to binge watch. People don’t get bored now, so they don’t know when to close the screen and actually do something. Here’s to people getting out into community, experiencing life eye to eye, and helping to make a difference.
Click here to read the New York Post article “Digital heroin”.
Most people are realizing that our economy is broken, and that despite their hard work, very few people find a good job or get paid well. This article (“Saving Capitalism”), from the cover of Time Magazine, shows how the financial services sector has gone from serving businesses to extracting 85% of all the money. It employs very few people, discourages research and development, and focuses only on short-term gains and consumption. But we can change things. Our system of capitalism has good elements, and it had good rules. Those broken rules can be fixed!
Article: How Wall Street is choking our economy and how to fix it, by Rana Foroohar: