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The Rich Can Fight Inequality, Too

9 10 3
22.03.2019

NEW DELHI – When wealthy people espouse left-wing causes, such as redistribution of wealth, those on the right often label them hypocrites. “If you are so concerned about equality, why don’t you give up some of your own income first?” is the usual retort.

Mar 4, 2019 Emmanuel Macron calls on EU citizens to focus on three goals ahead of the critical European Parliament election in May.

Feb 27, 2019 Raghuram G. Rajan argues that beggar-thy-neighbor policies cannot solve the problems facing declining communities.

Feb 11, 2019 George Soros argues that the EU cannot be saved without transforming its political party systems.

This response can have a powerful dampening effect. Most people do not like to think of themselves as hypocrites. So the wealthy are faced with a choice: either give away some of their assets and then campaign against inequality, or just keep quiet. Most prefer the second option.

This is unfortunate, because global inequality is reaching intolerable levels. What’s more, wealth tends to remain in families over time. Inequality is becoming dynastic, with some people born rich and vast numbers who are poor from the moment they appear on Earth.

The injustice of this is so grotesque that just thinking and talking about it should prompt us to demand corrective action. But by stopping........

© Project Syndicate