| Gary Stevenson's channel 4 documentary 16:45 - Jul 6 with 14927 views | J2BLUE |
Being shown Wednesday at 9pm. For anyone who may not have seen anything about it.
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| Gary Stevenson's channel 4 documentary on 15:02 - Jul 27 with 954 views | nrb1985 |
| Gary Stevenson's channel 4 documentary on 14:55 - Jul 27 by SuperKieranMcKenna |
Announced he’s stepping away from making videos now due to burnout. |
If you listen to what he said, it was a very flimsy worded statement that basically said he’s only going to monthly videos most likely.
The cynic in me thinks he’s not enjoying the scrutiny his documentary drew, including even from the guardian and other left wing outlets. Feels like after that he’s a bit of a busted flush.
I wish Farage would go the same way. |  | | |
| Gary Stevenson's channel 4 documentary on 15:17 - Jul 27 with 912 views | J2BLUE |
| Gary Stevenson's channel 4 documentary on 15:02 - Jul 27 by nrb1985 |
If you listen to what he said, it was a very flimsy worded statement that basically said he’s only going to monthly videos most likely.
The cynic in me thinks he’s not enjoying the scrutiny his documentary drew, including even from the guardian and other left wing outlets. Feels like after that he’s a bit of a busted flush.
I wish Farage would go the same way. |
I think I posted on here that there were a few times in his book where he came across quite thin skinned so this is no great surprise.
Probably a good time to walk away after regaining a bit of credibility from that open letter they all sent. | | | |
| Gary Stevenson's channel 4 documentary on 15:20 - Jul 27 with 905 views | grow_our_own |
| Gary Stevenson's channel 4 documentary on 20:05 - Jul 9 by jasondozzell |
What because he suggests that things can't carry on like this?
His analysis is correct. If we don't address it the middle class is going to disappear.
And surprise surprise Neidle works for a consultancy that advises people how to avoid tax.
If normal people don't pay tax it's evasion. For those with money and access to lawyers it's avoidance and clever.
Tax system is far too complex. |
"Neidle works for a consultancy that advises people how to avoid tax" - used to. Neidle is a poacher turned gamekeeper, exactly like Gary. He's no stooge for "the man". Brought down a Tory chancellor: Nazeem Zahawi. It's the gamekeeper-turned-poachers that tend to be unscrupulous sell-outs. [Post edited 27 Jul 15:22]
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| Gary Stevenson's channel 4 documentary on 15:29 - Jul 27 with 869 views | nrb1985 |
| Gary Stevenson's channel 4 documentary on 15:17 - Jul 27 by J2BLUE |
I think I posted on here that there were a few times in his book where he came across quite thin skinned so this is no great surprise.
Probably a good time to walk away after regaining a bit of credibility from that open letter they all sent. |
Like Farage, all seems a bit transparent. Albeit if he genuinely has burnout, I wish him well, been there - not a nice feeling.
I find it odd though for somebody who has burnout he’s already talking about doing podcasts and monthly videos. From my own experience, you want to sit in a dark room most of the time and be left alone. | | | |
| Gary Stevenson's channel 4 documentary on 16:06 - Jul 27 with 824 views | SouthBucksBlue |
| Gary Stevenson's channel 4 documentary on 15:17 - Jul 27 by J2BLUE |
I think I posted on here that there were a few times in his book where he came across quite thin skinned so this is no great surprise.
Probably a good time to walk away after regaining a bit of credibility from that open letter they all sent. |
I don’t understand why so many on this thread have questioned GS’s credibility/motivation.
Like others I didn’t particularly enjoy his book (audiobook) but it was more because of his narration although there were other factors.
The fact remains that what he’s been saying is true. Notably that hard working but not super talented or ruthless younger people have next to no chance of being able to buy their own home and that individuals with high wealth are getting wealthier some obscenely.
No government seems to have the will or cojones to address these issues despite some higher wealth individuals actually asking to be taxed more. | | | |
| Gary Stevenson's channel 4 documentary on 16:13 - Jul 27 with 803 views | nrb1985 |
| Gary Stevenson's channel 4 documentary on 16:06 - Jul 27 by SouthBucksBlue |
I don’t understand why so many on this thread have questioned GS’s credibility/motivation.
Like others I didn’t particularly enjoy his book (audiobook) but it was more because of his narration although there were other factors.
The fact remains that what he’s been saying is true. Notably that hard working but not super talented or ruthless younger people have next to no chance of being able to buy their own home and that individuals with high wealth are getting wealthier some obscenely.
No government seems to have the will or cojones to address these issues despite some higher wealth individuals actually asking to be taxed more. |
“Notably that hard working but not super talented or ruthless younger people have next to no chance of being able to buy their own home and that individuals with high wealth are getting wealthier some obscenely”
I’m absolutely loathed to do this because this subject has been absolutely done to death now.
But for the GS sceptics on the thread - please do what JasonDozzell couldn’t and walk us through how one causes the other in your statement above?
I don’t dispute both are true - I dispute that one causes the other as GS says. | | | |
| Gary Stevenson's channel 4 documentary on 16:19 - Jul 27 with 773 views | lowhouseblue |
| Gary Stevenson's channel 4 documentary on 16:06 - Jul 27 by SouthBucksBlue |
I don’t understand why so many on this thread have questioned GS’s credibility/motivation.
Like others I didn’t particularly enjoy his book (audiobook) but it was more because of his narration although there were other factors.
The fact remains that what he’s been saying is true. Notably that hard working but not super talented or ruthless younger people have next to no chance of being able to buy their own home and that individuals with high wealth are getting wealthier some obscenely.
No government seems to have the will or cojones to address these issues despite some higher wealth individuals actually asking to be taxed more. |
"individuals with high wealth are getting wealthier"
where's your evidence of this? of course there are always individuals getting richer, but at the aggregate level usually used in assessing these things the data isn't there.
source: ons, total wealth in great britain:
https://www.ons.gov.uk/peoplep
share of total aggregate household wealth held by the top 10%:
2006-08. 43.9%
2008-10. 43.6%
2010-12. 43.6%
2012-14. 44.7%
2014-16. 44.6%
2016-18. 44.6%
2018 -20. 44.6%
2020-22. 43.5%
2022-24. 40.7%
what you have said is simply not true at the aggregate level in the last 20 years. |  |
| And so as the loose-bowelled pigeon of time swoops low over the unsuspecting tourist of destiny, and the flatulent skunk of fate wanders into the air-conditioning system of eternity, I notice it's the end of the show |
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| Gary Stevenson's channel 4 documentary on 16:27 - Jul 27 with 750 views | leitrimblue |
| Gary Stevenson's channel 4 documentary on 16:13 - Jul 27 by nrb1985 |
“Notably that hard working but not super talented or ruthless younger people have next to no chance of being able to buy their own home and that individuals with high wealth are getting wealthier some obscenely”
I’m absolutely loathed to do this because this subject has been absolutely done to death now.
But for the GS sceptics on the thread - please do what JasonDozzell couldn’t and walk us through how one causes the other in your statement above?
I don’t dispute both are true - I dispute that one causes the other as GS says. |
Wether one causes the other is not the issue for me.
The problem is rather that these 2 issues exist and what can be done.
I imagine most of us don't wish to live in a world where hardworking young people can't afford to buy a home or where some other super wealthy individuals are getting obscenely wealthy |  | | |
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| Gary Stevenson's channel 4 documentary on 16:39 - Jul 27 with 724 views | nrb1985 |
| Gary Stevenson's channel 4 documentary on 16:27 - Jul 27 by leitrimblue |
Wether one causes the other is not the issue for me.
The problem is rather that these 2 issues exist and what can be done.
I imagine most of us don't wish to live in a world where hardworking young people can't afford to buy a home or where some other super wealthy individuals are getting obscenely wealthy |
But taxing wealthy people isn’t going to bring UK house prices down is it?!
Housing is in a mess in this country because of consistently bad policy over many years.
Seems folly to mention the two in the same breath if you don’t think one causes the other. | | | |
| Gary Stevenson's channel 4 documentary on 16:52 - Jul 27 with 687 views | leitrimblue |
| Gary Stevenson's channel 4 documentary on 16:39 - Jul 27 by nrb1985 |
But taxing wealthy people isn’t going to bring UK house prices down is it?!
Housing is in a mess in this country because of consistently bad policy over many years.
Seems folly to mention the two in the same breath if you don’t think one causes the other. |
I imagine they are 2 of the biggest issues with the economy at the moment and I see no issue with mentioning the 2 of um together.
No, clearly taxing wealthy people is not going to bring house prices down. Though may help with shortfalls elsewhere.
Personally I would attempt to make tax avoidance like drink driving. Should be totally socially unacceptable, then couple it with severe prison sentences for anyone doing it or advising others how to do it.
A 2 -3 year minimal prison sentence for attempted tax avoidance rising to 5-10 years for severe cases may help to change people's views on tax avoidance | | | |
| Gary Stevenson's channel 4 documentary on 16:59 - Jul 27 with 653 views | nrb1985 |
| Gary Stevenson's channel 4 documentary on 16:52 - Jul 27 by leitrimblue |
I imagine they are 2 of the biggest issues with the economy at the moment and I see no issue with mentioning the 2 of um together.
No, clearly taxing wealthy people is not going to bring house prices down. Though may help with shortfalls elsewhere.
Personally I would attempt to make tax avoidance like drink driving. Should be totally socially unacceptable, then couple it with severe prison sentences for anyone doing it or advising others how to do it.
A 2 -3 year minimal prison sentence for attempted tax avoidance rising to 5-10 years for severe cases may help to change people's views on tax avoidance |
What’s the actual issue with wealthy people getting wealthier as you see it? What’s the real
impact on your every day life for you to define it as an economic “issue” per se?
On a tax avoidance - simple question, why do you think governments haven’t done any of those things?
Surely can’t all be down to the fact that every single one of them is in hock to wealthy billionaires? | | | |
| Gary Stevenson's channel 4 documentary on 17:07 - Jul 27 with 627 views | lowhouseblue |
| Gary Stevenson's channel 4 documentary on 16:52 - Jul 27 by leitrimblue |
I imagine they are 2 of the biggest issues with the economy at the moment and I see no issue with mentioning the 2 of um together.
No, clearly taxing wealthy people is not going to bring house prices down. Though may help with shortfalls elsewhere.
Personally I would attempt to make tax avoidance like drink driving. Should be totally socially unacceptable, then couple it with severe prison sentences for anyone doing it or advising others how to do it.
A 2 -3 year minimal prison sentence for attempted tax avoidance rising to 5-10 years for severe cases may help to change people's views on tax avoidance |
don't you think it odd that there is this debate about rising inequality causing all these problems and yet no one can ever provide any evidence that inequality in the uk is actually rising. it certainly is in the usa but there's no data to show that it is in the uk. sorry to if that's inconvenient. | |
| And so as the loose-bowelled pigeon of time swoops low over the unsuspecting tourist of destiny, and the flatulent skunk of fate wanders into the air-conditioning system of eternity, I notice it's the end of the show |
| |
| Gary Stevenson's channel 4 documentary on 17:17 - Jul 27 with 613 views | balcombeblue |
| Gary Stevenson's channel 4 documentary on 17:07 - Jul 27 by lowhouseblue |
don't you think it odd that there is this debate about rising inequality causing all these problems and yet no one can ever provide any evidence that inequality in the uk is actually rising. it certainly is in the usa but there's no data to show that it is in the uk. sorry to if that's inconvenient. |
Once people have a perception, data doesn't really come into it. | | | |
| Gary Stevenson's channel 4 documentary on 17:26 - Jul 27 with 576 views | lowhouseblue |
| Gary Stevenson's channel 4 documentary on 17:17 - Jul 27 by balcombeblue |
Once people have a perception, data doesn't really come into it. |
i fear it's at the level of: well that eon musk is very rich therefore inequality in the uk must have risen. | |
| And so as the loose-bowelled pigeon of time swoops low over the unsuspecting tourist of destiny, and the flatulent skunk of fate wanders into the air-conditioning system of eternity, I notice it's the end of the show |
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| Gary Stevenson's channel 4 documentary on 17:28 - Jul 27 with 578 views | nrb1985 |
| Gary Stevenson's channel 4 documentary on 17:26 - Jul 27 by lowhouseblue |
i fear it's at the level of: well that eon musk is very rich therefore inequality in the uk must have risen. |
Considerably less rich than he was in June though…
Something I’m not sure is very well understood by followers of Gary. [Post edited 27 Jul 17:29]
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| Gary Stevenson's channel 4 documentary on 17:37 - Jul 27 with 565 views | leitrimblue |
| Gary Stevenson's channel 4 documentary on 16:59 - Jul 27 by nrb1985 |
What’s the actual issue with wealthy people getting wealthier as you see it? What’s the real
impact on your every day life for you to define it as an economic “issue” per se?
On a tax avoidance - simple question, why do you think governments haven’t done any of those things?
Surely can’t all be down to the fact that every single one of them is in hock to wealthy billionaires? |
Wealthy people getting wealthier probably as no impact on my life. I'm in a very privileged position that I'm mortgage free and have a very well payed job.
But there are a lot of people out there who are struggling. I dont think there's any denying that. A system in which many feel they have no chance of home ownership or improving there lot while seeing others making obscene amounts of money while appearing not to contribute as much to society is far from a good thing in my eyes.
Its also asking for those who feel there not getting a fair chance in society to vote for Reform etc.
Have no idea while governments haven't done these things. Perhaps you could explain? | | | |
| Gary Stevenson's channel 4 documentary on 17:42 - Jul 27 with 549 views | leitrimblue |
| Gary Stevenson's channel 4 documentary on 17:07 - Jul 27 by lowhouseblue |
don't you think it odd that there is this debate about rising inequality causing all these problems and yet no one can ever provide any evidence that inequality in the uk is actually rising. it certainly is in the usa but there's no data to show that it is in the uk. sorry to if that's inconvenient. |
Im not suggesting that inequality is rising or that rising inequality is causing all these problems though am i?
I guess another question is, even if inequality isnt rising, as a life long Labour supporter are you happy with the level of inequality we presently have in the UK? | | | |
| Gary Stevenson's channel 4 documentary on 17:45 - Jul 27 with 542 views | nrb1985 |
| Gary Stevenson's channel 4 documentary on 17:37 - Jul 27 by leitrimblue |
Wealthy people getting wealthier probably as no impact on my life. I'm in a very privileged position that I'm mortgage free and have a very well payed job.
But there are a lot of people out there who are struggling. I dont think there's any denying that. A system in which many feel they have no chance of home ownership or improving there lot while seeing others making obscene amounts of money while appearing not to contribute as much to society is far from a good thing in my eyes.
Its also asking for those who feel there not getting a fair chance in society to vote for Reform etc.
Have no idea while governments haven't done these things. Perhaps you could explain? |
Ok - what impact do you think wealthy people getting wealthier has on other people’s lives? There must be some things you can list surely for it to be one of the biggest economic issues currently, in your own words.
Oh the tax avoidance point - I could suggest that putting people in jail for having ISAs and SIPPs probably isn’t found to be a vote winner. I suspect it would also lead to a lot of people struggling in retirement.
But it would cause some fairly significant prison overcrowding if that’s what you’re looking for? | | | |
| Gary Stevenson's channel 4 documentary on 19:56 - Jul 27 with 429 views | DJR |
| Gary Stevenson's channel 4 documentary on 15:02 - Jul 27 by nrb1985 |
If you listen to what he said, it was a very flimsy worded statement that basically said he’s only going to monthly videos most likely.
The cynic in me thinks he’s not enjoying the scrutiny his documentary drew, including even from the guardian and other left wing outlets. Feels like after that he’s a bit of a busted flush.
I wish Farage would go the same way. |
It may well be the Guardian TV critic who did for him. 
Her review was savage.
https://www.theguardian.com/tv
"However, before we get to an interrogation of his great idea, there are two major obstacles.
The first is that Stevenson is not an appealing presenter. He has an adolescent bullishness about him that comes across badly on screen, raising a sort of fight-or-flight response in the viewer instead of encouraging engagement. The strident idealism that infuses his speech and style is hard enough to take from the young, where it at least belongs, but it sits less well on a 39-year-old – adults should have the confidence, the experience and the wisdom that offers more.
The second is that he is outdone and undone by almost all of his interviewees. Telecoms mogul Bassim Haidar, who was in the headlines last year for switching allegiance and donations from the Conservative party to Reform, does it through politeness. He invites Stevenson to address what he would do when his proposed tax caused investors like him to pull all their money out of the UK and find somewhere friendlier instead. Twenty-eighth generation landowner Francis Fulford (yes, of The F**king Fulfords and Life is Toff fame, but here in less eccentric mode) does it with robust jocularity (“The values you are basing your figures on will collapse! It’s Noddyland – it won’t work”) and inquiries as to how asset-rich but income-poor rich people like him will pay. Andrew Henderson of Nomad Capitalist, which advises clients on how to minimise their tax liabilities by moving countries, does it through sheer belligerence (“I don’t think life is fair and I think that fundamentally upsets people who talk about inequality because you feel entitled to rich people’s money”). Tax lawyer and adviser Dan Neidle deals the final blow towards the end of the programme by summing up the underlying problem of everything that has gone before. “You are unable,” he tells Stevenson coolly but firmly, “to separate your emotional reaction to inequality from a rational assessment of the best tools for it.”
This, really, is where a truly amazing documentary could have begun. Instead of Stevenson being left floundering, without convincing comebacks to any of them (was he not briefed? Was he paralysed in front of the camera? Has he simply spent too much time preaching to the choir and forgotten what it’s like to be challenged? Or is Neidle right in his frustrated pronouncement that “There’s no evidence you’ve ever thought about it!”), we could have had an hour of him being led through wider issues by a genuine expert and letting us all learn something along the way. This way was just a faintly embarrassing waste of time."
[Post edited 27 Jul 19:57]
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| Gary Stevenson's channel 4 documentary on 20:09 - Jul 27 with 403 views | nrb1985 |
| Gary Stevenson's channel 4 documentary on 19:56 - Jul 27 by DJR |
It may well be the Guardian TV critic who did for him.
Her review was savage.
https://www.theguardian.com/tv
"However, before we get to an interrogation of his great idea, there are two major obstacles.
The first is that Stevenson is not an appealing presenter. He has an adolescent bullishness about him that comes across badly on screen, raising a sort of fight-or-flight response in the viewer instead of encouraging engagement. The strident idealism that infuses his speech and style is hard enough to take from the young, where it at least belongs, but it sits less well on a 39-year-old – adults should have the confidence, the experience and the wisdom that offers more.
The second is that he is outdone and undone by almost all of his interviewees. Telecoms mogul Bassim Haidar, who was in the headlines last year for switching allegiance and donations from the Conservative party to Reform, does it through politeness. He invites Stevenson to address what he would do when his proposed tax caused investors like him to pull all their money out of the UK and find somewhere friendlier instead. Twenty-eighth generation landowner Francis Fulford (yes, of The F**king Fulfords and Life is Toff fame, but here in less eccentric mode) does it with robust jocularity (“The values you are basing your figures on will collapse! It’s Noddyland – it won’t work”) and inquiries as to how asset-rich but income-poor rich people like him will pay. Andrew Henderson of Nomad Capitalist, which advises clients on how to minimise their tax liabilities by moving countries, does it through sheer belligerence (“I don’t think life is fair and I think that fundamentally upsets people who talk about inequality because you feel entitled to rich people’s money”). Tax lawyer and adviser Dan Neidle deals the final blow towards the end of the programme by summing up the underlying problem of everything that has gone before. “You are unable,” he tells Stevenson coolly but firmly, “to separate your emotional reaction to inequality from a rational assessment of the best tools for it.”
This, really, is where a truly amazing documentary could have begun. Instead of Stevenson being left floundering, without convincing comebacks to any of them (was he not briefed? Was he paralysed in front of the camera? Has he simply spent too much time preaching to the choir and forgotten what it’s like to be challenged? Or is Neidle right in his frustrated pronouncement that “There’s no evidence you’ve ever thought about it!”), we could have had an hour of him being led through wider issues by a genuine expert and letting us all learn something along the way. This way was just a faintly embarrassing waste of time."
[Post edited 27 Jul 19:57]
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As I said at the time - given it was a puff piece that he had majority editorial control over you’d think - you do rather wonder how bad the stuff that didn’t make the edit was… | | | |
| Gary Stevenson's channel 4 documentary on 20:56 - Jul 27 with 357 views | Westcountryblue |
The documentary was the worst thing he could have done, as it just highlighted how paper-thin his ideas were. He couldnt argue his point anything beyond an initial statement. He may have been a successful city trader, but that doesnt nessersarily mean you are good economist/financier. Those are 2 very, very different knowledge bases and skills.
The subject of tax alone is such an overly complex subject, enough to tie anyone up in knots. As that doc proved, because he got completely confused on it, and then just looked gormlessly at the camera.
To be honest, i've never liked the false altruism of his videos. Sitting in his kitchen with his Stone Island shirt, shooting from the hip and spouting a load of crap, while cultivating that look that he lives on cheese toasties and resonates with the common man. [Post edited 27 Jul 20:57]
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| Gary Stevenson's channel 4 documentary on 21:29 - Jul 27 with 313 views | Swansea_Blue |
| Gary Stevenson's channel 4 documentary on 17:45 - Jul 27 by nrb1985 |
Ok - what impact do you think wealthy people getting wealthier has on other people’s lives? There must be some things you can list surely for it to be one of the biggest economic issues currently, in your own words.
Oh the tax avoidance point - I could suggest that putting people in jail for having ISAs and SIPPs probably isn’t found to be a vote winner. I suspect it would also lead to a lot of people struggling in retirement.
But it would cause some fairly significant prison overcrowding if that’s what you’re looking for? |
That Q’s not aimed at me, but isn’t is pretty obvious what the downsides of wealth accumulation by the few and widening inequality?
A few of the main issues:
- it removes money from circulation and encourages hoarding of assets and savings (no ‘trickle down’)
- can tie up stock and drive up prices of large assets like houses
- it buys political influence (£5M donation anyone?; the likes of Aaron Banks, Peter Hargreaves and the JCB Bamford bloke funding Brexit which removed rights and opportunities from us all and made the country and plenty of businesses and individuals poorer).
- extreme wealth and market capture by huge corporations can lead to wage suppression and poorer working conditions (e.g. Amazon a known poor employer).
- by reducing economic mobility, the concentration of wealth in the few, helps drive increasing poverty. The wider implications of poverty affect all of us through the strain on the welfare state through to poor health outcomes and increased NHS demand.
Political influence may be the largest problem. Look at the damage the Eton class have done as MPs and how lobbying by rich individuals and ‘think tanks’ bankrolled by rich individuals has done to the UK. Or Musk and Trump in the US. These people would be nowhere near power if we lived in anything vaguely resembling a meritocracy. |  |
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| Gary Stevenson's channel 4 documentary on 22:44 - Jul 27 with 260 views | BanksterDebtSlave |
| Gary Stevenson's channel 4 documentary on 16:19 - Jul 27 by lowhouseblue |
"individuals with high wealth are getting wealthier"
where's your evidence of this? of course there are always individuals getting richer, but at the aggregate level usually used in assessing these things the data isn't there.
source: ons, total wealth in great britain:
https://www.ons.gov.uk/peoplep
share of total aggregate household wealth held by the top 10%:
2006-08. 43.9%
2008-10. 43.6%
2010-12. 43.6%
2012-14. 44.7%
2014-16. 44.6%
2016-18. 44.6%
2018 -20. 44.6%
2020-22. 43.5%
2022-24. 40.7%
what you have said is simply not true at the aggregate level in the last 20 years. |
They'll be getting milked by the top 1%....poor things! |  |
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| Gary Stevenson's channel 4 documentary on 22:53 - Jul 27 with 241 views | BanksterDebtSlave |
| Gary Stevenson's channel 4 documentary on 17:45 - Jul 27 by nrb1985 |
Ok - what impact do you think wealthy people getting wealthier has on other people’s lives? There must be some things you can list surely for it to be one of the biggest economic issues currently, in your own words.
Oh the tax avoidance point - I could suggest that putting people in jail for having ISAs and SIPPs probably isn’t found to be a vote winner. I suspect it would also lead to a lot of people struggling in retirement.
But it would cause some fairly significant prison overcrowding if that’s what you’re looking for? |
'A rentier economy (or rentier capitalism) is a system where wealth and income are generated by controlling scarce assets like real estate, patents, or digital platforms, rather than by producing new goods or services. Income is extracted as "rent," interest, or royalties, often leading to severe wealth inequality and market monopolies.A "rentier" is any economic actor who earns income from owning or controlling assets without actively producing or adding new value to the economy. This model represents a shift from productive, competitive capitalism to a system dominated by extraction and monopolistic power.'
....this sounds a little like what you do? [Post edited 27 Jul 22:56]
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| Gary Stevenson's channel 4 documentary on 23:11 - Jul 27 with 207 views | balcombeblue |
| Gary Stevenson's channel 4 documentary on 21:29 - Jul 27 by Swansea_Blue |
That Q’s not aimed at me, but isn’t is pretty obvious what the downsides of wealth accumulation by the few and widening inequality?
A few of the main issues:
- it removes money from circulation and encourages hoarding of assets and savings (no ‘trickle down’)
- can tie up stock and drive up prices of large assets like houses
- it buys political influence (£5M donation anyone?; the likes of Aaron Banks, Peter Hargreaves and the JCB Bamford bloke funding Brexit which removed rights and opportunities from us all and made the country and plenty of businesses and individuals poorer).
- extreme wealth and market capture by huge corporations can lead to wage suppression and poorer working conditions (e.g. Amazon a known poor employer).
- by reducing economic mobility, the concentration of wealth in the few, helps drive increasing poverty. The wider implications of poverty affect all of us through the strain on the welfare state through to poor health outcomes and increased NHS demand.
Political influence may be the largest problem. Look at the damage the Eton class have done as MPs and how lobbying by rich individuals and ‘think tanks’ bankrolled by rich individuals has done to the UK. Or Musk and Trump in the US. These people would be nowhere near power if we lived in anything vaguely resembling a meritocracy. |
“These people would be nowhere near power if we lived in anything vaguely resembling a meritocracy.“
Musk is the very embodiment of what a meritocracy gives you. He produces products people want, takes financial risks and generates wealth, like many billionaires and good on him for it. I don’t like all his sloganeering but I did enjoy his take down of that bbc journalist a couple of years back.
Is much rather buy the products of these people than any of the garbage central governments produce.
I agree with many of your points on the issues with wealth inequality, but as is shown in statistics this has moved very insignificantly in the past three decades. | | | |
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