First this week we have the vice-chairman of Goldman Sachs, Lord Griffiths, saying
We have to accept that inequality is a way of achieving greater opportunity and prosperity for all.
No we don’t. It’s just not true. Inequality is NOT a way of making life better for ALL. The evidence actually points the other way. Inequality is a BAD way of trying to make life better, even for the privileged.
Then the Duke of York chips in to defend the bonuses –
I don’t want to demonise the banking and financial sector. Bonuses, in the scheme of things, are minute. They are easy to target. A number will have abused their privilege of a bonus, so get rid of the excesses, but don’t throw the baby out with the bath water.
Have these guys never read the research on the effects of inequality? Take a look at just two books – The Impact of Inequality, and The Spirit Level, and make up your own mind. Or go to The Equality Trust and read more.
Heroes Not Zombies 
It’s amazing (and appalling) how these people of power try to justify their thoughts and opinions with their poorly examined philosophies.
There is a difference between reward for good work and unbridled greed. Interesting question here is whether the bubble they are operating in has become the seed of their own downfall. Momentum for financial service reform had stalled. Now folks are ticked off again. A nice way to ensure ‘equality’ in this type of context is to break down barriers that are limiting competition from getting involved and cutting prices that lead to such paychecks.
‘Bonuses, in the scheme of things, are minute’…..
Compared to the government bale outs and volume of money in the system yes but the ‘scheme of things’ to most people is the daily amount they have to live on .
An amusing take on the financial crisis is here via Deric Bownds excellent mind blog…..http://www.nytimes.com/2009/10/14/opinion/14trillin.html?_r=1
I agree with you on inequality and I have read the evidence for more equitable distribution of income (in terms of health and well- being) .
Perhaps many opinions are formed (just like the rest of life) in upbringing and early life experiences ……I think that many commentators such as the ones you quote probably have no idea about living in ‘average’ UK . Many opinions are formed through a cosseted existence mixing with similar minded people – that is my biased opinion of a great deal of UK politicians and commentators.
ian