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Wealth Inequality Stagnates in the Last 25 Years
Summary by Socialist Planning Beyond Capitalism
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Wealth Inequality Stagnates in the Last 25 Years
For those of you who hold out for a social democracy model for socialism, we have some bad news for you. Sweden is tied with Yankeedom in having the steepest inequality in the world, thanks to 46 years of neoliberalism. Meanwhile the standard of living has gone up in Eastern Europe and down in Latin America. Michael Roberts demonstrates why taxing the rich will not solve this problem. Capitalists cannot face the tendency of the rate of profit to…
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