Posts Tagged ‘economy’

Greed is good?

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.

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