There are moral, social and economic arguments in favour of reducing inequality.
The second great turnaround proposed by the Club of Rome’s 21st Century Transformational Economics Commission in its Earth for All report is to reduce inequality within nations.
Inequality has been increasing around the world in recent decades, as it has in Canada. The World Inequality Report 2022 stated: “Income and wealth inequalities have been on the rise nearly everywhere since the 1980s following a series of deregulation and liberalization programs.” But, the report added, different countries displayed different degrees of rising inequality, indicating that “inequality is not inevitable, it is a political choice.
Specifically, in 1980, the top 10 per cent of income earners took almost 35 per cent of national income, while the bottom half of the population took almost 20 per cent. Today, the report notes, the top 10 per cent take just over 40 per cent of national income, while the bottom half take only 15.6 per cent. This makes Canada more unequal than the EU, but less unequal than the U.S.
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