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I have a dream of ending inequality

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Hong Kong has more ultra-rich people – those with at least US$30 million – than any world city, according to a survey by global research firm Wealth-X. I am not sure that’s something to boast about or despair over.

Unsurprisingly, with a Gini coefficient of 0.539, we are among the most unequal societies in the world. Just from this basic fact of inequality, social scientists can predict certain characteristic social failures of a wealthy society, even if they know nothing else about it: high inequality makes societies and countries dysfunctional across a wide range of social outcomes.

This conclusion is based on research across continents, over many decades, involving hundreds of individual studies and surveys across multiple disciplines. A useful summary can be found in The Spirit Level: Why Equality is Better for Everyone, by........

© South China Morning Post