Why liberals are so...

Started Nov 14, 2012 | Discussions thread
Midnighter
Senior MemberPosts: 1,727
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Re: Why liberals are so...
In reply to drh681, Nov 15, 2012

drh681 wrote:

Midnighter wrote:

Congratulations, the link you posted says the poorest 20% in Australia have 1% of our wealth.

Sounds terrible doesn't it? Australian society about to rip at the seams?

Do you seriously want to tell me that compares in any way with the US where the bottom 40% have 0.2%? Does that sound equally 'equitable' to you?

http://upload.wikimedia.org/wikipedia/commons/a/af/U.S._Distribution_of_Wealth%2C_2007.jpg

drh681 wrote:

Midnighter wrote:

Why does the US as a first world country have a distribution of wealth akin to that of a second world country?

What are the long term social effects of such a situation?

Like Australia is any more equitible:

http://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/6554.0Main%20Features12009-10?opendocument&tabname=Summary&prodno=6554.0&issue=2009-10&num=&view=

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You got a camera, now go out and get a life; or at least a picture of one!

So, what about it? 20% of the people have 65% of the wealth.

You brought up equability, I am telling you you cant compare 20% of a population with 1% of the wealth with 40% having 0.2%. Thats a pretty stark difference and frankly a ratio dangerous to social cohesion.

Australia is a pipsqueak in terms of wealth. With less to go around, it going to be less concentrated in any sort of capitalist economy

Your logic makes no sense to me, but in any case it has a higher GDP per capita than the US, so it has more to go around per citizen, not less.

The difference is the US has been doing this(creating wealth) for 200 years. Australia has only recently thrown off the shackles of Colonialism. Someday they may also lose the blinkers of resentful serfdom.

There need be no problem in creating wealth, but there is a problem in concentrating it too densely in the hands of too few. That really should be a self evident truth.

As to colonialism I can trace my ancestry here back to 1790 and my ancestor helped overthrow British installed government in 1808. But Australia, like Canada, never really had a gripe with 'serfdom' (or whatever) to Britain.

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