Posted at Hartmann Report on May. 5, 2024
Less for Labor Means More for CEOs: The Hidden History of Monopolies
Monopoly also produces extremes of inequality, and extreme inequality kills societies.
Richard Wilkinson and Kate Pickett of the Equality Trust in the UK have done extensive research on the topic, leading to two best-selling books and a brilliant website.51 They document in startling detail, going nation by nation and, in the United States, state by state, how inequality damages the lives of everybody except those who live in massive wealth bubbles at the top.
It’s not the poverty that extreme inequality produces that does much of the damage. Instead, because we’re wired like all mammals to understand and perceive both fairness and unfairness, when we find ourselves in unfair situations, our interactions with the world and each other become distorted.