We all know wealth isn’t distributed in a fair way. It doesn’t need to be equal, because we’re simply not, we all have different needs, desires, talents and so on. But we’ve all got some basic ideas about fairness and justice, and the current distribution of material wealth doesn’t reflect those at all.
Today’s short post is not about this enduring injustice that’s inherent in capitalism alone, but more about how bad it really is versus our general perception of this well known problem. For this reason I’d like you to watch this short video I found a couple of years ago and just re-discovered thanks to Google’s artificially intelligent search-engine; it popped up in the “recommended” section on my YouTube page… Beware of the opinion bias bubble and deliberately look up opinions you do not agree with!! It’s a healthy habit, trust me, as I was glad to see that right beneath that video there was one called “5 inequality myths”, which tries to disprove the picture painted in the first video; I’ll link that one at the end 😉
The video shows the difference between how we think wealth is distributed right now (well… in 2012 that is), how we think it should be, and finally what the reality is; I think you’ll be amazed how far the average person’s perception is removed from both the perceived ideal as well as the reality. Especially the gap between the “normal rich” and the “super rich” and the elimination of the middle class are indicative of the current situation:
While the shown graphics originate from the American people and economy, this can easily be extrapolated for the entire world as the world economy has been shaped and dominated by that economy over the past decades. Our globalized economy is modeled after the ideals propagated by Reagan and Thatcher, saying that governments are the cause of all problems and markets are the solution.
Let this also be a reminder of the real fight we’re in by joining the crypto-sphere. The video illustrates where we’ve come by following the idealism with a singular focus on personal profits, the elevation of the individual above everything else and the murder of what we used to call “the common good”. This is the concentration of wealth, and as a consequence power, we hope to get rid of, or at least temper by ending the banks’ control over our money. So stop quibbling over prices; they’re not important compared to the greater common good crypto-currencies can serve.
As promised, I’ll close with the opposite view; I hope you recognize the sales-pitch of the classic “mom and pop business” “rags to riches” story we’ve been told about dog-eat-dog free market economy, and carefully avoids the problems that come from concentrated wealth-accumulation inherent therein. But please, do make up your own mind 🙂