Tuesday, December 20, 2011


Supporters of capitalism often claim that while capitalism is not perfect at least it is improving and its worst inequalities are lessening. How do they explain this report then we wonder. "The pay gap between the highest and lowest earners in the UK has grown more quickly than in any other high-income country since 1975, a report has said. Research by the Organisation for Economic Co-operation and Development (OECD) found the sharp increase in income inequality, which began in 2005, leaves Britain well above the group's average. ....Data showed the money earned by the country's top 1% of earners doubled from 7.1% of the total UK income in 1970 to 14.3% in 2005." (Huffington Post, 5 December) In 35 years the top "earners" have doubled their loot. RD

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