Local writer takes on inequality, economics and fairness – The Dallas Morning News

by | Oct 3, 2022 | Financial

“The one who dies with the most toys wins.” “Them that has, gets. “It takes money to make money.” “Money is the root of all evil.” “The rich get richer and the poor get poorer.” All these statements have some validity in historical context and belief. All except for the part where the poor get poorer.Global poverty is defined as the number of people worldwide who live on less than $1.90 per day. That number has fallen by more than 50% since 1990 but still leaves 729 million fellow humans in this category, according to OurWorldInData.org. Among the rest of us, 85% live on less than $30 per day and two-thirds live on less than $10 per day. These statistics ping the heart but I hope they make you feel lucky.It always amazes me how people can hold such diametrically opposed opinions of causes and effects relating to such study. Too much government interference with financial markets? Too little? Are there political undertones? (Of course there are.) How large a part does good old-fashioned greed play? Do we need more regulation or less? Higher interest rates or lower? Increase tariffs or eliminate them?I’m sure CEOs are all very nice people, but their pay has skyrocketed 1,322% since 1978, according to a 2017 report from the Institute for Policy Studies. The finance industry creates 4% of the jobs but …

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