The Cost Of Inequality

“Milton Friedman really did say that the basis of a free society is companies making as much money for their shareholders as possible. Thatcher adviser Brian Griffiths really did say inequality would achieve ‘greater prosperity for all’.

And it was nonsense. Economic growth in the UK has slowed – just over 2% per annum between 1980 and 2009, compared with 3% between 1950 and 1973. Productivity growth is lower and real wages have fallen for the vast majority of the population. Wages now account for 45% of GDP compared with 60% in 1979.

While the majority have got poorer, the rich have got richer. In the US, for example, in 1976 the top 1% of the population accounted for 8.6% of income. Today it is 23%.”

This is a quote from Chris Hind’s review in Red Pepper magazine, of Stewart Lansley’s book, The Cost Of Inequality: Three Decades Of The Super-Rich And The Economy.

And yet everyday we hear in the Anglo-American media that businesses operating in free markets are our only hope to escape this crisis created by businesses operating in a free market.

But as Goebbels said (see previous post) “If you tell a lie big enough and keep repeating it, people will eventually come to believe it.”


About I Am Not A Number

I Am Not A Number is written by Chris Jury. For 30 years Chris Jury was a TV actor, director and writer best known for playing Eric Catchpole in over 60 episodes of the BBC’s antique classic, Lovejoy, and for directing over 50 episodes of Eastenders. In 2008 he was appointed as the Senior Lecturer in Recorded Media in the School Of Music & Performing Arts at Bath Spa University. He currently presents, Agitpop, a pop & politics radio discussion programme on North Cotswold Community Radio He is currently the Communications Officer for UCU at Bath Spa University and a UCU SW Regional Rep at SWTUC.
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2 Responses to The Cost Of Inequality

  1. It’s time again for the French Revolution. Bring on the guillotine!

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