Wealth inequality and other things we don’t have to learn from America (video)

It is said that what happens in the US happens in the UK shortly afterwards. This clip of the Daily Show was broadcast in August 2011 and touches on many of the same arguments used by the Conservative Party in the UK to justify a form of austerity that attacks the incomes and the dignity of the weakest and the poorest in society whilst claiming that the government has “no choice” in the matter. And anyway, the “poor” are just moochers who can’t really be poor if they have a flat screen TV, refrigerator, mobile phone and a microwave oven….

To watch the clip you need to type or copy and paste the password: imincorrigible

*The income inequality table referenced in the video can be found at the end of this post

The irrationality, particularly as espoused by the Tea Party and Fox News, that surrounds the philosophical and economic argument of the right in the United States is quite extraordinary and seems, to my mind, extreme; yet these US caricatures are now broadly what the British public believe to be a fair assessment of the UK’s socio-economic landscape. The accusations and the diatribe spewed out several times a week in the Daily Mail and from Fox News’ UK News Corporation stable mates (The Sun, The Times and The Sunday Times) and others has come to be seen as the truth – the rich are the ‘producers’, the ‘makers’ and the ‘workers’ (no irony there) and the poor are the ‘scroungers’, the ‘takers’ and the ‘shirkers’ although few have gone as far as Ann Coulter whom, amongst a number of vile opinions she holds, also thinks that the poor are “utterly irresponsible animals“.

It is these pervasive attitudes that simply will not countenance the possibility that ever widening and entrenched gap between the über wealthy and the rest of society represents one of the worst possible outcomes on almost every level. This new plutocracy under which most of the population of the industrialised world now lives is destroying the cohesive social fabric that once bound nations together as a people.

Chrystia Freeland, Managing Director and Editor of Consumer News at Thomson Reuters, has studied our Plutocratic overlords in her book Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else.

“She argues that technology and globalisation are creating winner-take-all superstars in many sectors who join a cosy, conformist bubble……..Freeland highlights the danger when a small, self-serving and self-satisfied group dominate public discourse, then seek a system tilted even more in their favour. “I think the ultra-wealthy actually have an insufficient influence,” says one billionaire Republican donor. Another says taxes should be virtually abolished, arguing that the government should pay the likes of Bill Gates and Steve Jobs for their contributions to society. “It’s that top 1% that probably contributes more to making the world a better place than the 99%,” he concludes outrageously.” (Ian Birrel, The Observer Book Review)

The plutocrats and everyone else should recognise that they didn’t build their businesses on their own:

Any suggestion of a narrative that sees a better quality of life for all through less extreme income and wealth inequality (as convincingly demonstrated in The Spirit Level: Why More Equal Societies Almost Always Do Better by Richard Wilkinson and Kate Pickett) for example is shut down with the accusation that the proposer must be a “socialist” engaged in “class warfare” – even when the proposer happens to be stock market investor and Forbes’ 4th richest billionaire in the world (net worth US$54bn) Warren Buffett!

Is billionaire fund manager Warren Buffett a class warrior?

We are not America. It doesn’t have to be that way.

Reference:

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Wealth Inequality by Country Sorted By Level of Inequality (Ascending CIA Gini %):
*US & UK HIGHLIGHTED IN RED

Source: http://en.wikipedia.org/wiki/List_of_countries_by_income_equality

Country	UN R/P 10%^[3]	UN R/P 20%^[4]	World Bank Gini (%)^[5]	WB Gini (year)	CIA R/P 10%^[6]	Year	CIA Gini (%)^[7]	CIA Gini (year)
Sweden	6.2	4.0	25.0	2000	6.2	2000	23.0	2005
Slovenia	5.9	3.9	31.2	2004	5.9	1998	23.8	2011
Montenegro			30.0	2008			24.3	2010
Hungary	5.5	3.8	31.2	2007	5.6	2002	24.7	2009
Denmark	8.1	4.3	24.0	2005	12.0	2000 est.	24.8	2011 est.
Norway	6.1	3.9	25.8	2000	6.0	2000	25.0	2008
Austria	6.9	4.4	26.0	2007	6.8	2004	26.0	2007
Luxembourg			30.8	2000	6.8	2000	26.0	2005
Slovakia	6.7	4.0	26.0	2009	6.7	1996	26.0	2005
Finland	5.6	3.8	26.9	2000	5.7	2000	26.8	2008
Germany	6.9	4.3	28.3	2000	6.9	2000	27.0	2006
Belarus	6.9	4.5	27.2	2008	6.9	2002	27.2	2008
Malta							27.4	2011
Belgium	8.2	4.9	33.0	2000	8.3	2000	28.0	2005
Iceland							28.0	2006
Serbia			27.8	2009			28.2	2008
Ukraine	5.9	4.1	26.4	2009	7.6	2006	28.2	2009
Kazakhstan	8.5	5.6	29.0	2009	8.0	2004 est.	28.9	2011
Cyprus							29.0	2005
Afghanistan			27.8	2008			29.4	2008
Switzerland	9.0	5.5	33.7	2000	8.9	2000	29.6	2010
Ethiopia	6.6	4.3	29.8	2005	6.5	2000	30.0	2000
Australia	12.5	7.0	30.5	2006	12.7	1994	30.3	2008
European Union							30.4	2009 est.
Pakistan	6.5	4.3	30.0	2008	6.6	2002	30.6	2007–2008
Armenia	8.0	5.0	30.9	2008	25.8	2004	30.9	2008
Netherlands	9.2	5.1	30.9	2007	9.2	1999	30.9	2007
Czech Republic	5.2	3.5	26.0	2005	5.2	1996	31.0	2009
Estonia	10.8	6.4	36.0	2004	11.0	2003	31.3	2010
Italy	11.6	6.5	36.0	2000	11.7	2000	31.9	2011
Timor-Leste			31.9	2007			31.9	2007 est.
Croatia	7.3	4.8	33.7	2008	7.2	2003 est.	32	2010
Spain	10.3	6.0	34.7	2000	10.2	2000	32.0	2005
Canada	9.4	5.5	32.6	2000	9.5	2000	32.1	2005
Tajikistan	7.8	5.2	30.8	2009	7.8	2003	32.6	2006
France	9.1	5.6	32.7	2008	8.3	2004	32.7	2008
Nepal	15.8	9.1	32.8	2010	15.6	2004	32.8	2010
Greece	10.2	6.2	34.3	2000	10.4	2000 est.	33.0	2005
Bangladesh	7.5	4.9	32.1	2010	7.5	2000 est.	33.2	2005
Romania	7.5	4.9	30.0	2009	7.4	2003	33.2	2011
Kyrgyzstan	6.4	4.4	36.2	2009	6.4	2003	33.4	2007
Azerbaijan	9.7	6.0	33.7	2008	9.5	2001	33.7	2008
Ireland	9.4	5.6	34.3	2000	9.4	2000	33.9	2010
Niger	46.0	20.7	34.6	2008	44.3	1995	34.0	2007
Poland	8.8	5.6	34.1	2009	8.7	2002	34.1	2009
Taiwan					6.1	2002 est.	34.2	2011
Egypt	8.0	5.1	30.8	2008	8.0	2000	34.4	2001
Albania	7.2	4.8	34.5	2008	7.2	2004	34.5	2008
Latvia	11.6	6.8	36.6	2008	11.6	2003	35.2	2010
Algeria	9.6	6.1	35.3	1995	9.6	1995	35.3	1995
Lithuania	10.4	6.3	37.6	2008	10.3	2003	35.5	2009
Bosnia and Herzegovina	5.4	3.8	36.2	2007	5.5	2001	36.2	2007
New Zealand	12.4	6.8	36.2	1997			36.2	1997
Benin	9.4	6.0	38.6	2003	9.4	2003	36.5	2003
Mongolia	8.2	5.4	36.5	2008	8.2	2002	36.5	2008
Laos	8.3	5.4	36.7	2008	8.4	2002	36.7	2008
India	8.6	5.6	33.4	2005	8.6	2004	36.8	2004
Indonesia	7.8	5.2	34.0	2005	7.9	2002	36.8	2009
Uzbekistan	10.6	6.2	36.7	2003	10.6	2003	36.8	2003
Japan	4.5	3.4	38.1	2002	4.5	1993	37.6	2008
Tanzania	9.2	5.8	37.6	2007	9.3	2000	37.6	2007
Vietnam	6.9	4.9	35.6	2008	10.0	2004	37.6	2008
Yemen	8.6	5.6	37.7	2005	8.6	2003	37.7	2005
Cambodia	12.2	7.3	37.9	2008	12.0	2004	37.9	2008 est.
Moldova	8.2	5.3	33.0	2010	8.3	2003	38.0	2008
Liberia	12.8		38.2	2007			38.2	2007
Portugal	15.0	8.0	38.5	2007	9.2	1995 est.	38.5	2007
Malawi	10.9	6.7	39.0	2004	11.0	2004	39.0	2004
Mauritania	12.0	7.4	40.5	2008	11.8	2000	39.0	2000
Mauritius							39.0	2006 est.
Venezuela	18.8	16.0	44.8	2006	50.3	2003	39.0	2011
World					12.0	2002 est.	39	2007
Israel	13.4	7.9	39.2	2001	11.8	2005	39.2	2008
Ghana	14.1	8.4	42.8	2006	13.7	1999	39.4	2005–2006
Guinea	10.5	6.6	39.4	2007	21.6	2006	39.4	2007
Burkina Faso	11.6	6.9	39.8	2009	11.5	2003	39.5	2007
Jordan	11.3	6.9	35.4	2010	11.3	2003	39.7	2007
Tunisia	13.4	7.9	41.4	2005	13.7	2000	40.0	2005 est.
United Kingdom	13.8	7.2	34.0	2005	13.6	1999	40	2008-2009
Mali	12.5	7.6	33.0	2010	12.6	2001	40.1	2001
Turkey	6.6	4.6	39.0	2008	17.1	2003	40.2	2010
Nicaragua	31.0	8.8	40.5	2005	15.4	2001	40.5	2010
Turkmenistan	12.3	7.7	40.8	1998	12.2	1998	40.8	1998
Morocco	11.7	7.2	40.9	2007	11.9	1999	40.9	2007 est.
Senegal	12.3	7.4	39.2	2005	12.4	2001	41.3	2001
Côte d’Ivoire	16.6	9.7	41.5	2008	17.0	2002	41.5	2008
Russia	12.7	7.6	40.1	2009	12.8	2002	41.7	2011
South Korea	7.8	4.7	31.3	2007	8.6	2005 est.	41.9	2011
Burundi	19.3	9.5	33.3	2006	19.3	1998	42.4	1998
Kenya	13.6	8.2	47.7	2005	18.6	2000	42.5	2008 est.
Macedonia	12.5	7.5	43.2	2009	12.3	2003	43.2	2009
Nigeria	17.8	9.7	48.8	2010	17.5	2003	43.7	2003
Uganda	16.6	9.2	44.3	2009	16.4	2002	44.3	2009
Iran	17.2	9.7	38.3	2005	16.9	1998	44.5	2006
Cameroon	15.7	9.1	38.9	2007	15.4	2001	44.6	2001
Guyana			44.5	1998	26.0	1999	44.6	2007
Philippines	15.5	9.3	43.0	2009	15.5	2003	44.8	2009
United States	15.9	8.4	45	2007	15.0	2007 est.	45.0	2007
Bulgaria	7.0	4.4	28.2	2007	8.8	2005	45.3	2007
Uruguay	20.1	10.2	45.3	2010	17.9	2003	45.3	2010
Jamaica	17.3	9.8	45.5	2004	17.0	2004	45.5	2004
Mozambique	18.8	9.9	45.7	2008	18.8	2002	45.6	2008
Argentina	31.6	17.8	36.4	2012	35.0	2007 Jan.-Mar.	45.8	2009
Georgia	15.4	8.3	41.3	2008	15.2	2003	46	2011
Peru	26.1	15.2	48.1	2010	31.5	2003	46.0	2010
Malaysia	22.1	12.4	46.2	2009	28.0	2003 est.	46.2	2009
Rwanda	18.6	9.9	50.8	2011	18.2	2000	46.8	2000
El Salvador	38.6	20.9	48.3	2009	55.4	2002	46.9	2007
Dominican Republic	25.3	14.3	47.2	2010	29.4	2005	47.2	2010 est.
China, People’s Republic of	21.6	12.2	47.0	2007	21.8	2004	47.4	2012
Madagascar	19.2	11.0	44.1	2010	19.3	2001	47.5	2001
Ecuador	35.2	17.3	49.3	2010	17.5	2006 Oct.^[10]	47.7	2012 Dec.^[11]
Singapore	17.7	9.7	48.1	2008	17.3	1998	47.8	2012
Sri Lanka	11.1	6.9	40.3	2007	36.1	2003/04 fiscal year	49.0	2010
Zimbabwe			50.1	1995			50.1	2006
The Gambia	20.2	11.2	47.3	2003	20.6	1998	50.2	1998
Costa Rica	23.4	15.6	50.7	2009	37.4	2003	50.3	2009
Swaziland	25.1	13.0	51.5	2010	25.4	2001	50.4	2001
Brazil	40.6	21.8	54.7	2009	37.1	2007	50.8	2012
Zambia			54.6	2006			50.8	2004
Papua New Guinea	23.8	12.6	50.9	1996	23.8	1996	50.9	1996
Mexico	21.6	12.8	48.3	2008	24.6	2004	51.7	2008
Panama	49.9	23.9	51.9	2010	61.4	2003	51.9	2010 est.
Chile	26.2	15.7	52.1	2009	32.1	2003	52.1	2009
Bolivia	93.9	42.3	56.3	2008	157.3	2002	53	2010
Paraguay	38.8	25.7	52.4	2010	65.9	2003	53.2	2009
Thailand	12.6	7.7	40.0	2009	12.4	2002	53.6	2009
Hong Kong	17.8	9.7	53.3	2007			53.7	2011
Guatemala	33.9	20.3	55.9	2006	48.2	2002	55.1	2007
Honduras	59.4	17.2	57.0	2009	35.2	2003	57.7	2007
Colombia	60.4	25.3	55.9	2010	56.3	2008	58.5	2011
Haiti	54.4	26.6	59.2	2001	68.1	2001	59.2	2001
Namibia	12.8	56.1	63.9	2004	129.0	2003	59.7	2010
Central African Republic	69.2	32.7	56.3	2008	68.1	1993	61.3	1993
Sierra Leone	87.2	57.6	42.5	2003	87.2	1989	62.9	1989
Botswana	43.0	20.4	61.0	1994			63	1993
Lesotho	10.5	44.2	52.5	2003	48.2	2002 est.	63.2	1995
South Africa	33.1	17.9	63.1	2009	31.9	2000	65.0	2005