ECONOMIC INEQUALITY ISN'T NEW. But this spring it became trendy, especially after Pope Francis dropped the tweet heard ’round the world in April: “Inequality is the root of social evil.”
Around the same time, Capital in the Twenty-First Century—a just-short-of-700-page book by French economist Thomas Piketty—became a best seller. Piketty, while not quite as concise as the pope, also sees wealth inequality as a problem—he focuses on its damaging effects on democratic institutions. Using extensive data, Piketty makes the case that escalating wealth inequality is built into capitalism. Without specific interventions, he writes, our politics and culture will be dominated by a small elite controlling vast amounts of primarily inherited wealth. It might create a new Gilded Age for some, but it won’t be any shinier for regular folks than the first one a century ago.
When class and economic status become news, the conversation tends to get a little shrill. Terms such as “Marxist” and “anti-business” were tossed around freely in reference to both Piketty and the pope. Some, of a more spiritual bent, sought to warn the pope and other Christians who decry inequality about the biblical sin of “covetousness,” offering reminders of the virtue of hard work. (I guess the hidden message of the parable of the rich man and the beggar at his gate is that Lazarus is envious; the real issue must be Lazarus’ poor work ethic and lack of get-up-and-go!)
But the inequality gap should be of concern to everyone, whatever their income or ideology. The point is not the fact that there are differences in wealth—those exist in any human society. And it’s not necessarily helpful or productive to seek scapegoats or assign broad characteristics to particular classes; neither poor people in general nor rich people in general are inherently noble, lazy, or scheming—temptations may vary, but good and evil can be found in people of every economic status.
Read the Full Article
