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UK spends more financing inequality in favour of rich than rest of Europe, report finds
(www.theguardian.com)
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this post was submitted on 27 Nov 2023
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This is the best summary I could come up with:
“Inequality has made the UK more unhealthy, unhappy and unsafe than our more equal peers,” said Priya Sahni-Nicholas, the co-executive director of the trust.
“It is also causing huge damage to our economy: we have shorter healthy working lives, poorer education systems, more crime and less happy societies.”
Sahni-Nicholas said: “There is a direct financial cost to inequality: the consequences of structuring society to allow for massive profiteering for the richest at the expense of the rest of us have been enormous.”
Stewart Lansley, the author of The Richer, the Poorer and The Cost of Inequality, said it was “an acute paradox of contemporary capitalism that as societies get more prosperous, rising numbers are unable to afford the most basic of material and social needs”.
Lansley blames the way the gains from growth have been increasingly colonised by a small group of financial and business magnates – a process he says is facilitated by state policy.
Too much of today’s economy involves unproductive activity geared to personal reward, a far cry from the culture of entrepreneurialism promised by Margaret Thatcher and Tony Blair, Lansley adds.
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