Topic: Global Wealth Disparity is going to cause a lot of issues soon (Read 441 times)

You're preaching to the choir, wealth disparity is always going to exist, it's nothing new and I do not see it ever disappearing, however we have made great progress during this century but people instead of looking at their improved living standards compared to what was available 100 years ago they see that someone else can buy a luxury car and they think it is unfair that they have to drive their car that is not as expensive but that can do 99% of what that luxury car can do.

This is why I have always believed that movements like communism and other similar ideologies are always based on envy, some people cannot just take that someone else has more money, is better good-looking, more talented or that can do whatever other thing better than them and they prefer to destroy those people rather than to accept that fact.

I look those human flaws from the area of government. IMO the government is the greater factor of wealth disparity. Every government have a set of people that they favour either directly by award of contracts or employment of the families of those at the corridor of power. They also indirectly favour some by throwing out some policies which will crumple some businesses and small growing businesses to show a light to another kind of business because of the policy, of course the saying that: when one door closes, another opens. That is exactly how wealth disparity is created as government continues to change hands. However, it is mainly for those who can easily metamorphose and change their course of direction as government changes policy but those who are weak or does not have the political and financial capacity, crumbles by the road side (is a survival race or fittest race).

In Nigeria as an example, the banning of crypto related accounts will definitely affect operators and bank owners may have more money at the main time that monies may be kept in banks (as interest) growing from it pending when the crypto operators decide what to do. So at the point, some other business may start growing because of the ban like P2P which gives other people business opportunity.

I am enjoying the discussion.  I am also aware that there is lots of things that appear unfair.  and there are absolutely things that Are actually unfair. 

Research golden rice.   that right there will help a lot more

My entire point isn't even really about income. its about wealth which isn't the same thing at all.   Humanity all of it despite the point about income disparity, is getting wealthier at a rate that's Stunning in comparison to the entire human history  Right Now.   The focus about income disparity is a distraction designed to make you upset and engage with bad actors.(who may or may not even be aware they are bad actors)

And Despite all of humanity's flaws and evil self destructive tendencies  We are still improving.  Some of those paths will be wrong some will be right. 

I don't think we'll ever agree, but I want to point out that I do enjoy the discussion.


I'll also mention that I agree with this point. Absolute equality of income/outcome is a terrible idea, is grossly unfair, hampers innovation, ennervates drive, subdues talent and, as you point out, history demonstrates this quite clearly. I favour instead (the impossible dream of) equality of opportunity, where people aren't held back because they happen to be born in a poor country or a poor area of a rich country, and where people born rich aren't propelled into positions of authority simply because of their name. I do think that inequality is a problem that needs to be addressed, wealth inequality more than income inequality because elite income is derived largely from existing wealth. Talented people, hard workers, visionary entrepreneurs deserve to be wealthier, I'm not disputing that, even in some cases much wealthier... I just think that the excesses should be reined in a bit through more effective progressive taxation, and specifically a wealth tax. You mentioned in a previous post Bill Gates turning his attention, wealth and considerable talents towards the common good - this is laudable, and I'm a big fan. But he's an outlier amongst the ultra rich. In general, deciding whose lives get to be saved shouldn't be the preserve of individual billionaires, but rather of democratically elected governments and international not-for-profit bodies. Let someone have millions of dollars if he's earned it, fine, but maybe when it gets to a hundred billion we should be thinking it's a little obscene.

I'd like to point out that the 2 income necessary part is due to several factors. One of them being women demanding jobs equal pay.   With the close to doubling the available workforce you had a huge purchase power increase and the results are (what the market will bear), prices. 

Houses.  The idea that people always got a brand new house is a new one and pushed by good marketing.   Go back to history again and you will find that the norm is multi generation families in the same house.  A lot of time in the same room. 

The number of Malaria deaths has been dropping for years and there are vaccines on the horizon for it Mostly pushed by that guy everyone loves to hate Bill Gates I may not like him either but if he gets the vaccine done without getting paid for it....that's a so called 1%er for you doing bad things....

And Elon I don't think is even pursuing wealth, wealth is happening to him due to what he is doing.  He is a great example of why you need to leave people like him alone. hes dragging  4 industries 30 years forward, yes 4 of them.  Rockets, Cars, Satellites (and everything that goes with that) and possibly a human machine interface.   

The real question here isn't that there is income in equality.   

The real question Should be Why Are there extremely successful people?

Real income equality is a argument that says somehow despite all evidence that there needs to be equality in income(or outcome).   When reality has proven multiple times that this leads to rather bad things.  The universe clearly isn't built for equality if this was so there would only be hydrogen. maybe not even that.  It functions at all due to things being Unequal.

Lets move on to brain biology for a sec.   The human brain attempts to be efficient in energy usage. Its large and uses a lot of calories,  So it tends to edit itself to save power.  This is called neuro plasticity  So if the brain finds a short cut in its thinking, it Really wants to keep it.  Its 100% unconscious. This leads to all Kinds of long term problems.  So you've learned something that works short term but isn't very long term good.   Its hard to unlearn it, it gets worse as you get older.  Ever tried teaching a older person something new?  The usual response is "I don't need to learn that what I have got works".   Now, you CAN get people to learn new things if they are fairly intelligent to begin with.   What if they aren't?  Then its a fight.  A fight you'll lose.  Lets use a recent meme quote (they can remain retarded longer then you can remain solvent)  That right there is why they tend to get ignored.  No one has time. No on wants to be dragged in to the chaos of attempting to teach an adult child.

So this leaves a problem with people appearing to be stupid. How do you fix that problem?  That's a serious one and is Probably part of the real one.   

Again, not why are there poor people,  we know why.    Why are there rich people at all?

Certainly standards of living are in general rising around the globe as a historical trend. I'm not arguing against this point, rather I'm saying that I don't think this should be used to suggest that inequality doesn't matter.

During 2020, Elon Musk increased his personal wealth by $140 billion. Meanwhile 400,000 people die of malaria each year, who could be saved by a $2 insectidal net. We can't conclude from this that the poor are in general getting richer, therefore wealth distribution is irrelevant.

But sticking to developed nations, and your point around weight, there is certainly an argument that poorer people can only afford cheaper foodstuffs, which tends to be calorie-heavy junk food. Yes, most people can afford basic sustenance, but even then there is the issue of increased foodbank use.


_{https://www.trusselltrust.org/news-and-blog/latest-stats/end-year-stats/}

And there are other indicators that poverty is worsening, the ratio of house price to income being an obvious example (chart below for the UK since the 1960s). Even anecdotally, a generation ago many family households had a single wage-earner, and an 'average' job provided sufficient remuneration, whereas nowadays the trend is towards households having both parents working as a single income stream is no longer sufficient to keep above the poverty line. The key driver of this trend being increasing inequality. "Trickle-down" is a myth perpetuated by the elite.

I believe there is a "global currency" as in using that for exchanges between nations and that is as accepted and understandable as it gets. If you are talking about going to a grocery shop and buying with one currency all over the world, that is not going to happen, shops will not accept just one currency all over the world, but when we are talking about huge companies making huge deals, and they do use dollars there which could be "global currency" considering how big their deals are but that is just business to business and not in our regular lives.

So, we could probably talk about having a decent amount of crypto places, that is not going to be accepted everywhere neither, but at least it could get bigger than all other fiat currencies. However this is not going to be one day we wake up and find it like that thing, it is going to take decades and we need to fix some problems bitcoin has in order to get there.

The problem with the Statement is in it's Framing.  By saying the rich get richer and the poor get poorer you are in effect altering the perspective of the question and the answer.   I didn't disagree that the rich are rich what I disagree with is the poor being poor.  I am in no way going to attempt to compare a socialist hell hole to a first world nation.   Your chart probably does that without even telling you that it does. 

When in the history of humanity have the poor been Fat? You are comparing the poor to the rich how is this a good comparison?   Maybe you should be comparing the poor to the poor? and the rich to the rich?  How about the poor to the poor IN a socialist hell hole from 100 years ago to now?

You might think that well that improvement is just technology or something.   Lets Not forget How that technology came about and where is came from!

So I stand by my statement.  It's Bullcrap.  Cowpaddies  Horseturds.

The future is brighter then ever.  Envy is part of the problem. 

Be happy with what you Have, With a Eye on what you want!   This statement will improve yourself and everyone else's condition incrementally and is in action right now. 

^{[CITATION NEEDED]}


Income inequality has risen dramatically over the last half century, and continues to do so. I've chosen an income chart below, but that isn't even the main driver of inequality. Return on capital is the biggest issue. The richer you are, the better the investment opportunities you have, and the more your existing wealth grows. If rate of return on capital can exceed rate of economic growth, and in the absence of a wealth tax, then 'rich get richer' is inevitable. Meanwhile, 1 in 3 people don't have access to safe drinking water.


_{https://ourworldindata.org/income-inequality#:~:text=Inequality%20in%20the%20US%20has,experience%20of%20other%20OECD%20countries.}

The problem we have at the moment is that no country would accept a foreign currency as the global currency. You say that China will never accept USD as the main currency world wide, but the same goes for Europe or Russia. All of these countries would want to see their own currency on top. While in Asia the Chinese currency might be very popular, there is no chance in the world to see Western Countries adopting the Chinese currency as number 1 either. As long as the control of the money supply within in the hand of one government we won't see a global currency.

The answer lies in your question. How come you are able to earn so much from Bitcoin, while others despite their hard work are able to earn much less? When I started with Bitcoin in 2012, I hardly knew anything about it. Despite that, I tried to enhance my cryptocurrency skills. Within two years, I was earning around BTC2 per month. If the poor want to improve their lives then they need to learn new skills. It is not the responsibility of the rich to teach them these skills. They have to learn it on their own. So the next time when someone complains about low wages, ask him to improve his skill set and then search for a better job.

You don't have a choice, only if you are handicapped or affected by a condition which makes it impossible for you to learn new skills. Other than that, it is just silly excuses to get handouts.

Well, you have said two very different things and they are not always relevant to each other. USD being a world true currency and China accepting USD are two very different things, doesn't mean both are right or wrong, doesn't mean they have to be same or different, I just mean that they are not the same thing.

Just to give you an example so that we can understand what I am saying better; let's assume china accepts USD, and of course USA uses USD but NO other nation ever uses USD, everyone decided that they will never accept USD again, as you can see that would make USD not a global money, but still China uses it, or let's say China decides that they will never accept USD ever again, but the whole rest of the world loves using it, that makes USD a global currency but not used by china. So, basically when you say China uses it that doesn't make it global and just because it is global doesn't mean china has to use it. That's all I am trying to say.

     The title of the topic itself is quite confusing but I get what you are saying. Thee truly is a need for acceptance for this world and less differences because of ego and grudges. The world badly needs unity and all these can only start with the leaders themselves. If they do not do anything about these issues, nothing good will ever happen with this world.

     And about the last part of your post, it is pretty hard to understand. The division you are stating is pretty impossible to happen, and if it ever does, it may not even work. Just imagine buying with that amount given, what would your change be? And dividing it that way, what if they spend it? Are they still eligible for another dividend? Maybe I'm just a bit close minded or limited in imagining what you are envisioning but I really don't thinf the idea itaelf would work.

No offense but this sounds silly, especially since we are mainly talking about the wealth disparity between the rich and the poor ones that do not have a choice. It is one thing to be lazy and poor and it is another thing to work like a slave (literally) for corporations, earning a living in crappy conditions and having no other choice but to continue this way.

The latter, those who work like slaves for pure survival, are the ones I count - not the lazy part of the society. They are working their asses off earning in one month less than I earn in BTC per week right now. It's unfair, but the gap will only get wider.

I think for a start the USD is a globally accepted currency by everyone in the world except CHINA. China deciding not to pair with usd does not mean it is completely private and centralized.

Either bitcoin, etherum or doge; just as your bank network messes up whenever there is network congestion and transaction at the same time; this tokens would also experience the same (and this is why there are high gas fees); alternatives are with crypto you can always fasten up transactions at any time, but centralized banking never guarantees that bearish or bullish.

Looks like you have no idea what you are talking about, China has the largest reserves of foreign funds and they have around $3.4 trillion as per the data published last year and you are claiming that they will never accept the dollar  . Currency throughout history was centralized, a government or a king creates the currency to conduct trade and this is nothing new and USD is the global currency used in trade by majority of the country.

Let's face the reality that someone will become rich and someone will suffer from poverty depending on his hard-work.

We really need to be patient, and determined to escape poverty and make our lives much more successful and happy.

Global Wealth Disparity is forever, life works that way. The essence of working is to earn money and survive our daily lives, to buy our wants and to buy our needs in life. That's the reason why bitcoin existed, to have another currency and also to make people have a good asset or investment. That's why communism is really not a good idea because people will settle on relying on other people which is wrong.

Stop writing BS.The US dollar is a truly global currency.
The Chinese have always accepted US dollars.China export goods worth billions of dollars to the USA every year.China was buying US government bonds worth billions of dollars every year.You are so wrong.
The global wealth disparity will continue to be a problem until the very end of human civilization.
We can't solve this problem with the financial system.It doesn't matter,if the system is based on fiat or cryptocurrencies-the wealth inequality will continue forever.
A decentralized financial system won't redistribute wealth across more people.Such system will just improve the security and efficiency of all financial transactions.

Easy for you to say but people have a lot of differences, if hardwork was the answer, how come there are still people out there? Why is still homelessness is a problem. Sure, lazy people are an exception but if you think about it, it is pretty offensive to the people who are trying their best to earn money to survive, don't invalidate their struggles cause they are not you. This is not just a problem that only the individuals need to solve, the government should intervene if they want to destroy poverty, the big solution is to improve education and not just any education but an education that does not make factory workers or passive workers, we also should introduce sex education, it is already 21st century and people change, we are now comfortable about it. And if you are so mad about free loaders, can you not pay your taxes then so they wouldn't get your money?

Rather than complaining about being poor, these people should work hard for a living. I am someone who works for almost 70 hours per week and I find it strange when lazy people complain about their poverty. I pay my taxes to the government, while these free-loaders receive their handouts from that money. And don't make any assumptions. I am no way near rich.. I can't even afford a four-wheeler. Still I never complain about my financial condition. I have worked hard over the years to improve my standard of living.

On the other hand, some of my neighbors have 7-8 kids each and they don't do any work. But these people receive free housing, electricity, cooking has and cash handouts from the governments. My family doesn't receive any of that, because I am a tax payer. And after all this, there is a section among the free-loaders who are not satisfied with what they get.