Inequality is the difference in measures of economic well-being between individuals in a group, among groups in a population, or among countries. Also known as economic inequality; inclusive of both income inequality and wealth inequality.
In the United States, the data broadly shows shared economic growth and prosperity in the post-WWII period until the 1970s, when things begin to take a turn: economic growth slowed and income inequality began to increase. For the past 40-50 years, income growth for lower and middle class Americans has stagnated while income growth at the top of the distribution remained growing strongly. Meanwhile as wages have stagnated, costs have risen dramatically, especially in key universal areas like housing, utilities, health care, and education.
Those at the top of the wealth distribution who benefit financially from the growing inequality find numerous ways to justify the architecture of the system, and retain much of the power and control over its design. Yet an overwhelming majority of the available historical and present-day data indicates that stark income inequality has wide-ranging negative effects on societies as a whole, from exacerbating social ills to deleterious effects on basic human needs.
Endangers the basic viability of democracy by concentrating power vs. distributing it broadly
Much has been said regarding the so-called laziness of the poor. Hands have been wrung, glasses have been drained, Davos hotel rooms have been trashed year after year in elite consternation over The Perennially Perplexing Plight of the Poor.
Meanwhile in the American political landscape, the answer is already clear:
THEY’RE NOT WORKING HARD ENOUGH!!!!
But perhaps there’s some confusion over what is meant by the term “hard work” — certainly it’s ambiguous, and no one takes a pause in the middle of a vigorous, breathy debate to define their terms, curiously. So, for the barely literate cretins out there who can barely manage to hold down a job much less participate in the ever-prosperous U.S. economy — a visual guide: