Part of the 1%

We have noticed increasing mention in the media of the 1% proposition,  and the wealth and income inequality that is more and more apparent. Most of what we read focusses on relative irrelevancies. Whether owning a house in Auckland makes you a member of the 1%, or what the exact measure of child poverty is,is not the point. We take the view that poverty, and particularly child poverty, does exist. And that there is increasing inequality. We see those issues as potentially massive dividers of society in the future, with the potential to trigger social unrest. And perhaps the future is already with us in parts of the world.
When inequality exists, and it is such that the unequal see no chance of bridging the gap, there exists the opportunity for massive social disruption.
 
The flow of migrants Europe is currently experiencing is in part refugees. But much of the evidence suggests that many are in fact economic migrants. And who can blame them? If they see an opportunity for a better life, isn’t that just what many of our forebears did?
 
There is plenty being written about the gap – or the inequality – but not so much about solutions. We don’t see the Robin Hood approach as being particularly useful. Just re-distributing current wealth wouldn’t last long at all before it was again concentrated , and additionally it would remove incentives for those  whose endeavours and energy and ideas are making a difference. But that is not an excuse for doing nothing. To stand back and allow the current trend of wealth and income being concentrated in fewer hands is simply a recipe for major social upheaval. Perhaps it is time for a real discussion about ways in which we can reduce the inequality – and in the process preserve a functioning society.
 
Perhaps the time has come to give some consideration to some innovative ideas. After all, Einstein is reputed to have said that  the definition of insanity is doing something over and over again and expecting a different result.Maybe it is time to give consideration to ideas different from those  that lead to this situation, and think about the likes of a universal basic income and flat tax.