RISING WEALTH INEQUALITY There has been rising inequality in wealth as well as iincome (the gap betweenn top 10% and lowest 20 % of the populaton), in US, over last several years. Such inequality is even greater in India. One of the striking aspects of wealth inequality has been soaring levels of executive pay. Wealthy also have a disproportionate influence on public policy thru campaign contributions and heavy lobbying. In India, the nontransparent electoral bond scheme has facilitated large cororate donations to the ruling party. There has also been a tendency on the part of large corporations, to exploit the corporate loopholes and use of tax havens, to avoid taxes. Globalizaion, automation and the decline in labor unions have made the life of ordinary workers more precarious. I...
Posts
Showing posts from July, 2023