Steam Center Blog

http://richmondvale.org/effects-of-poverty/ An older article on Inequality by the author has been popular in this blog. It talked of rising wealth and income inequality over the last forty years, primarily in the richest country of the world, US. Suggestions were given as to how the problem may be overcome. This year, 2017, OXFAM carried out a study of inequality in 152 countries of the world including both rich and poor countries. According to a report in times of India   based on the study, India has been ranked 132 out of 152 countries on the basis of inequality. Sweden ranked the highest while Nigeria was at the bottom. The US had the highest level of inequality among developed countries, though it is the wealthiest country in the world. However, most of its budget goes on military spending and maintaining wars and military bases around the world. In India, the new Narendra Modi government has been seized of the problem and his approval rating is one...

Image Tweet:   https://twitter.com/joshreef/status/676079690336063488 A t the present time, the world has executives of large companies and banks that have salaries in millions while there are also armies of workers trying to manage with starvation or near starvation wages. Such huge wage inequalities are more common in some countries than in others. It seems that in US, many workers on a full time job cannot manage without additional social help. The problem is not confined to a highly developed country like the US but it also extends into re-emerging economies such as India. Countries with huge wage inequalities lead to societies that are neither humane nor happy. They also tend to promote crime and poor living conditions in cities for all. Therefore the unhappiness is not confined just to the low wage earners but also extends into the lives of the wealthy. Further, the Universe has ways to ensure that whatever we spread around tends to return to us if i...

From: https://agenda.weforum.org/2015/01/the-key-factor-behind-the-rise-in-income-inequality/ from https://agenda.weforum.org/2015/01/the-key-factor-behind-the-rise-in-income-inequality/ A recent excellent article by Scott Bixby at the World Economic Forum has brought out some startling facts about the world economy, led by the US.   The data is illustrated in two graphs, repeated here for discussion. The graphs show that an era that may be termed the era of economic exploitation, an era in which the rich get richer while the poor get nowhere or poorer began in 1980. It is an era of rising inequalities. The trend appears to have begun with the richest 0.1 percent in 1980 and then spread on to the 1 percent by 1985. For some reason that is not fully clear or merely coincidental this era of inequality has begun around the time of creation of the World Economic Forum and its meets in Davos. Perhaps the forum provides for a sharing of techniques ...