Suchergebnisse

The article explores how inequality is produced in the modern world. The article categorizes different types of inequality and describes how they have a detrimental effect on the quality of human life. The author lists vital, existential and material inequalities as the basic manifestations of the phenomenon. The author is also interested in the mechanisms through which inequality is brought about. Exploitation of workers in the developing world as well as the distantiation of incomes and life expectancies are major mechanisms for creating inequality within the capitalist system. The author argues that the extension of solvent markets and the increased autonomy of financial markets are largely responsible for the increase in income gaps between countries in the developing and developed worlds. The author also indicts the risky financial practices that led to the 2008 economic crisis for further aggravating the problem of inequality. The article concludes by proposing that states try to correct the problem through judicious use of social welfare, such as is practiced in Scandinavia. Kenny Cargill