​Thanks to the global growth of Capitalism for past two centuries, humanity has made great progress,lifting people from hunger, bondage, poverty and misery.   All done without the need for "fixing" income inequality!

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Wealth and Income Inequality  ...What you Need to Know to Argue with Liberals

​Example of the Wealth/Income Inequality cycle over time:

The Chart reports data for the top 1% on the collapse (and slow restoration) of income inequality through the 20th century in the US, Canada, UK, Ireland and Australia.  Note the loss of wealth and income during the 1930's through the 1960's,when countries began recovery from the "violence" of financial crises, war, and state collapse.  Income inequality already got "fixed" in the last century!

Key Resource for page content is "The Great Leveler" by Walter Scheidel.  For more background, here is a video of interest (50 minutes)

​In the Beginning....wait, let's not go back that far!

  • Ten thousand years ago, people formed small villages, farming and livestock emerged for mutual benefit of all, no real inequality
  • Over the past three millennia, every society in history shows wealth and income inequality as the norm, best illustrated by Egypt, Greece, Rome and China.  Features include social hierarchies, wealth accumulation by a few and property rights
  • Violence (war,depression,revolution, state collapse, epidemics) is the most common cause that reduced Inequality throughout history.
  • In a violent upheaval, people suffered, lives lost,labor shortages compelled redistribution of funds as income for survivors, while wealth lost value (taxes,confiscation,lost property) a combination of events that collapsed Inequality. 
  • As economic conditions improve, wealth and income recovers over long period of time.

Key Takeaways:

  • Wealth and income inequality is a historic reality across all societies for three millennia
  • The chart notes (right side) the US experience for the 20th century:
  •   Top 1% had 24% of income in 1928, now has        25% range in inflation adjusted $, after a            century of recovery
  •   Top 1% had about 48% of the total wealth in        the 1920's, has almost fully recovered                purchasing power
  • ​​In both cases, the charts illustrate the collapse and gradual recovery of income inequality for most of the 20th century 
  • Three examples of state collapse: Venezuela, Haiti & Cuba.  Inequality problem solved!