Class Contrasts

The New York Times reported that the sale of a Picasso painting for $179 million is a reflection on inequality. The soaring price for art over the last generation shows the growing number of people with vast amounts of money for such things is producing a competitive market that drives prices ever upward. It begs the question, where is all the money coming from. While billions struggle with poverty and deprivation of vital needs the world over, including in the 'rich world', they are eclipsed by the incomes of the top 0.1 per cent, and, as the article says, "And the kind of people who can comfortably afford to pay a nine-figure sum for a Picasso, the top 0.001 per cent, say, are doing still better than that." What a crazy system where children die of malnutrition and the rich can fork out millions for a painting! John Ayers.