A mere 85 people control as much wealth as the poorest 3 billion people in the worlds population. That sobering fact makes it clear that the world in an unequal place, but is this economic inequality unfair? That all depends on what you believe. In this piece Nathan Palmer will explore the depths of economic inequality and discuss how the sociological concept of a justifying rationale can make you think it’s fair.
Do you want play monopoly with me?
Let’s say you and I just played a game of monopoly and I won. Would you want to play again with me, but this time I start with all of my winnings from last time? No? Why not? It’s unfair? Says who? If this is unfair then why do we the exact same thing in the real world. Each of us is born into an ongoing game of monopoly. Some of us are born to the winning families and some to the families that are losing.
My point here is that we know things are unequal, but for some reason we don’t think it’s unfair. Let’s start by looking at how unequal things are and then let’s dig into why we don’t think it’s terribly unfair.
If we put every single thing that could be owned in the country (i.e. the land, businesses, stocks, investments, etc) into one big pot, then the richest 20% of the country would own 88.9% of it all. That means that the other 80% of the country (which almost certainly includes you) is fighting over the remaining 11% of existing wealth. If we put all of the earned income into the same pot, we’d see that the top 20% earns 59.1% of that too. At the same time, poverty in the United States is higher than it’s ever been since 1928. In 2009 1 in four children under the age of six were impoverished. If we look at the global level, we find that the top 85 richest people have as much wealth as the bottom 3 billion people on earth… Let the soak in for a moment.
While I could blather on, I’d rather show you what this looks like using a video. But before I show it to you, I should tell you that the video is not without it’s flaws (read more about them here). However, the general gist (i.e. things are more unequal than we think they are) is still valid. So with that, here you go: