The growth of the inequality in the Western world

[Linkey]

https://kimgriest.medium.com/real-reason-the-american-middle-class-is-disappearing-901cb78ababf

 

The authors say that the inequality has been growing in the West in recent decades - the middle class is disappearing. This can be measured as the growth of the share of the world's money owned by the richest 1%. The authors attribute this to the fact that Reagan lowered taxes for the rich in the 80s.

The authors also write that the mainstream Western mass media are silent about this problem or lie. This is evident with both CNN and Fox News (especially CNN). And this can be explained simply - these 1% of the richest are interested in this state of affairs, and control these media.

I will add that other problems in the West have the same cause. Americans have chosen an old freak, and it is clear that in the US there would be millions of people who are younger, smarter ,etc. than Trump. But they are not given the opportunity to become candidates for presidency, because a smart president could become a threat to these 1% of the richest, so this is not in their interests.

[dimreepr]

The biggest problem is, very few people understand money and it's value...

[Phi for All]

This isn't a phenomenon found only in "the West". Russia is having the same problem, as is any country that favors authoritarians that undermine the social fabric of their countries. Costs of living increase, wages don't, and the super wealthy are allowed to use their money in ways they shouldn't be able to. 

The media in the US has no obligation to inform, and instead appreciates when we all have to spend more time deciphering the news. This problem is worldwide, atm.

[swansont]

On 12/1/2024 at 12:39 AM, Linkey said:

https://kimgriest.medium.com/real-reason-the-american-middle-class-is-disappearing-901cb78ababf

 

The authors say that the inequality has been growing in the West in recent decades - the middle class is disappearing. This can be measured as the growth of the share of the world's money owned by the richest 1%. The authors attribute this to the fact that Reagan lowered taxes for the rich in the 80s.

While I agree Reagan is responsible for certain problems in the US, I’m not sure how he’s responsible for inequality elsewhere in “the west”

On 12/1/2024 at 12:39 AM, Linkey said:

The authors also write that the mainstream Western mass media are silent about this problem or lie. This is evident with both CNN and Fox News (especially CNN). And this can be explained simply - these 1% of the richest are interested in this state of affairs, and control these media.

How can CNN be more silent than Fox news?

On 12/1/2024 at 12:39 AM, Linkey said:

I will add that other problems in the West have the same cause. Americans have chosen an old freak, and it is clear that in the US there would be millions of people who are younger, smarter ,etc. than Trump. But they are not given the opportunity to become candidates for presidency, because a smart president could become a threat to these 1% of the richest, so this is not in their interests.

At least 10 people ran in the GOP primary. How were they not given the opportunity to become a candidate? 

RFK Jr, Jill Stein, Cornell West and Chase Oliver were all on the ballot (though not all in all states). 

But if you’re going to claim that the problems of the west have been caused by Trump’s election, you’re going to do a better job of laying out your argument. Especially for problems that existed before 2016.

[Phi for All]

On 11/30/2024 at 10:39 PM, Linkey said:

The authors also write that the mainstream Western mass media are silent about this problem or lie.

It may be a focus for this article about a book, but the fact is people all over the world don't trust their media. Russia, China, Japan, the US, the EU, you name the country and the young people there (and many of the older people too) don't trust what their media is telling them. Perhaps we could broaden the focus of this topic, seeing as it's NOT a problem only "the West" is having. 

It's hard to trust people posting on social media as well, considering many are openly pushing their own agendas. Maybe even paid to do so.

[CharonY]

3 hours ago, swansont said:

While I agree Reagan is responsible for certain problems in the US, I’m not sure how he’s responsible for inequality elsewhere in “the west”

I think this particular view of small government and reducing social systems as part of trickle down economic has entered the arena in quite a few European countries (and Canada). Thatcher was a poster child of basically similar ideas regarding free markets coupled with reduced government spending, for example.

However, as already mentioned, this is not an issue of the Western world alone. There are different ways to measure wealth inequality, but using e.g. the Gini index, countries with the highest wealth inequality are found in Africa and South America, whereas the lowest include European countries such as the Netherlands, Czech Republic and Iceland. Also, the trends are not universally trending towards disparity. Looking at trends, it might seem that crises (including the pandemic) have resulted in upwards jump in inequality (suggesting that the economic system allows small groups to benefit greatly from crises). But we do not see that trend in Western Europe (quite the opposite). You can see below the Gini index (0=total equality; 1=total inequality) from US, China, Russia, Canada and some Western European countries (from ourworldindata.org). The details are more complicated, of course, but I am not sure whether a simple narrative is sufficient to explain these differences. And certainly it does not point to a singular issue exclusively to the West.

 

[swansont]

7 minutes ago, CharonY said:

I think this particular view of small government and reducing social systems as part of trickle down economic has entered the arena in quite a few European countries (and Canada). Thatcher was a poster child of basically similar ideas regarding free markets coupled with reduced government spending, for example.

Thatcher was PM starting in 1979, while Reagan was inaugurated in 1981, so there’s a causality issue here. And other countries had to elect leaders who enacted those policies. Reagan didn’t force that to happen. Reagan is responsible for some awful US policies, but other sovereign nations have agency. If they chose awful policies they are responsible for them.

[CharonY]

44 minutes ago, swansont said:

Thatcher was PM starting in 1979, while Reagan was inaugurated in 1981, so there’s a causality issue here.

You are right, my apologies. I should have said that they were ideological aligned (i..e in the aspects of neoliberal economics) and not suggested that Reaganomics was to blame. My thinking fell prey to an (unfounded) assumption of US ideological dominance. This is especially bad due to European origins of the underpinning schools of thoughts.

[Linkey]

13 hours ago, Phi for All said:

This isn't a phenomenon found only in "the West". Russia is having the same problem, as is any country that favors authoritarians that undermine the social fabric of their countries.

Of course. When I argue with pro-Putin Russians, I try to tell them that the problems of the Western world (which are emphasized by the Russian propaganda) are caused not by an abundance of democracy (as the Russian propaganda shows), but rather by by a lack of democracy.

I believe that the [] which is happening in Russia now, is also happening in the Western world, though in a more soft and hidden form. For Russians, this information is important since the Putin's propaganda tells them that the problems in the West are caused by the democracy, while in reality it is vice versa. For you, studding how the authoritarism works in Russia can be helpful for understanding the causes of your problems.