A few months ago, my father’s employer, the Wall Street Journal, ran a headline: “Rich Kids Are Getting Worse.”
That was the headline for a story about a study showing that the poorer a child is, the worse they are at school.
“Rich kids are getting worse,” the paper said.
And the headline of the next article, which appeared in the Boston Globe, was “Rich People Are Getting Better.”
What I saw in the Wall St Journal article was a way of describing how the economic boom of the 1990s and 2000s had made us richer.
This is how things were: In a globalised world, the rich were getting richer and the poor poorer.
The world economy was moving faster and faster towards a global free-market economy, and that was making us richer and more prosperous.
As the global economy expanded, the world’s superpowers (the United States, Canada, Japan, the European Union, China and South Korea) and the super-rich (the Gates, Soros and Buffett families, among others) made their fortunes.
That meant that our kids were getting poorer and poorer, with less opportunity for the best of the best, and the world became increasingly poorer.
And this was happening despite all the economic and technological progress we had made.
The result of all that economic and political progress, the paper reported, was that “the wealth gap between the top 1 per cent and the rest of the world has widened from roughly half a trillion dollars in 1992 to more than two-thirds of a trillion in 2017.”
It was now more than 10 times as big as the income gap between children in the bottom half of the income distribution, and it had widened to almost three-quarters of a billion dollars.
In other words, the global economic boom had produced the biggest wealth gap in human history.
And now, as our children got richer, we were increasingly worried that they would not be able to afford to do well.
So we started doing something about it.
We made sure that our children were getting better.
We educated them in maths and science, and in business.
We paid our teachers and our superintendents better.
And we gave them better incentives to work harder and to learn.
We gave them more money to invest in their education.
But that wasn’t enough.
The inequality between the superpowers and the rich continued to grow.
We saw our kids getting poorer, and poorer.
Inequality in the world Today, I think we know what’s really going on.
It’s about time we started paying more attention to what’s going on with inequality in the US.
A decade ago, we saw a massive increase in inequality between superpowers.
In 2016, the US had a GDP per capita of $12,800.
That’s a staggering $50,000 more than the UK, which had $9,000 per capita.
So the super powers have more money than the rest: in 2017, the super rich had more wealth than the bottom 60 per cent of households combined.
The richest one per cent now own nearly three-fifths of the wealth of the richest one-fifth.
We can’t blame this on a lack of wealth, or on the poor, or to some combination of the three.
We need to do more.
We’ve been doing just about everything to help the super power children, the richest kids, because the super class has made a lot of money in the past decade.
But there’s a lot more to it than that.
We know that wealth has been the most powerful factor shaping the world economy for a long time.
But we also know that inequality, the gap between rich and poor, is the most important thing shaping our world.
It has a direct effect on people’s lives, and we’re seeing it now.
In the US, inequality has grown by about 30 per cent since the late 1970s, and inequality has increased at about double that rate in Britain, Canada and Australia.
What’s happening is that the super people have become a bigger and bigger proportion of the people.
We are becoming increasingly unequal.
So if we want to tackle inequality, we need to start by looking at how the super and super-wealthy are shaping our economy.
Why do we have inequality?
Well, it has a lot to do with how we make our lives.
We live in a world of choice.
There are lots of different kinds of choices in our lives, all of which are different from each other.
For example, how much money I spend on clothes, the time and effort I put into my house and the money I save in the bank is not the same as the amount of money I get from my employer.
It might sound a little complicated, but it’s really simple.
What I do in my day-to-day life matters less than what I spend in the last year.
And in fact, the last thing I