Quotes About Inequality

Some people think it's a law that when productivity goes up, everybody benefits. There is no economic law that says technological progress has to benefit everybody or even most people. It's possible that productivity can go up and the economic pie gets bigger, but the majority of people don't share in that gain.

The bottom line is that while automation is eliminating many jobs in the economy that were once done by people, there is no sign that the introduction of technologies in recent years is creating an equal number of well-paying jobs to compensate for those losses.

As the world has changed through globalisation and technology, it has left many feeling left behind.

I live 50 miles from London and we've got some of the highest levels of teenage and childhood poverty in the country. It's disgusting. Just because it's a rural area, it gets forgotten.

I was born in a council house, my father left school at the age of 11, had his teeth out without anaesthetic at the age of 22.

I had no accomplishments except surviving. But that isn't enough in the community where I came from, because everybody was doing it. So I wasn't prepared for America, where everybody is glowing with good teeth and good clothes and food.

A street criminal can steal only what he can carry, but with a stroke of a pen, the dialing of a telephone or the pushing of a computer key, the white collar criminal can and does steal billions.

I went to Ethiopia, and it dawned on me that you can tell a starving, malnourished person because they've got a bloated belly and a bald head. And I realized that if you come through any American airport and see businessmen running through with bloated bellies and bald heads, that's malnutrition, too.

In a state of poverty, illiteracy, people just remain exposed to all kinds of manipulation. That's what we have lived. It's easier to tell a poor person, 'You know what, you are poor, you're hungry because the other one has taken away your rights.'

They don't have to tell me what life is like in a ghetto.

I have a great deal of difficulty with those who live in a hugely prosperous country telling people in the developing world that they should be deprived of a critical source of energy.

Extreme inequality is no temporary blip. It is hard-wired into our economies.

If you travel around America you see different sections of highways donated by this or that person, and that's a slow beginning of what may end up being a situation common in the Third World: some sections of highways in wealthy areas are beautifully maintained and other parts are just dirt-strewn potholes.

The more urbanized, the more educated, and even the more enlightened the world becomes, counterintuitively, the more politically unstable it becomes, too.*42 This is what techno-optimists and those who inhabit the world of fancy corporate gatherings are prone to miss: They wrongly equate wealth creation—and unevenly distributed wealth creation at that—with political order and stability.

But in spite of its bent toward self-interest, even with its excesses and inequalities, capitalism has a historic opportunity to create shared wealth that can benefit every person on the globe. I am convinced that our best hope for moving the poverty needle toward financial wellness once and for all lies with the best practices of the free market.

Poor kids, through no fault of their own, are less prepared by their families, their schools, and their communities to develop their God-given talents as fully as rich kids. For economic productivity and growth, our country needs as much talent as we can find, and we certainly can't afford to waste it. The opportunity gap imposes on all of us both real costs and what economists term "opportunity costs.

Schools themselves aren't creating the opportunity gap: the gap is already large by the time children enter kindergarten and does not grow as children progress through school. The gaps in cognitive achievement by level of maternal education that we observe at age 18-powerful predictors of who goes to college and who does not - are mostly present at age 6when children enter school. Schooling plays only a minor role in alleviating or creating test score gaps.

Slavery was, in fact, a social system designed to destroy social capital among slaves and between slaves and freemen.

Many people have a stereotype of what it means to be poor. And it may be somebody they see on the street corner with a sign: "Will work for food." And what they don't think about is that person who's struggling every day. Could be the person who waited on us, took our bank deposit, works in retail, but who is barely above the poverty line.

teacher flight from the challenges in such schools—violence and disorder, truancy, lower school readiness and English-language proficiency, less supportive home environments—means that students in these schools get a generally inferior education. Many teachers in poor schools today are doing a heroic job, driven by idealism, but in a market economy the most obvious way to attract more and better teachers to such demanding work is to improve the conditions of their employment.

Here the question is whether growing up in a poor neighborhood imposes any additional handicaps. The answer is yes.

Without succumbing to political nightmares, we might ponder whether the bleak, socially estranged future facing poor kids in America today could have unanticipated political consequences tomorrow. So quite apart from the danger that the opportunity gap poses to American prosperity, it also undermines our democracy and perhaps even our political stability.

By contrast, almost all our richer kids said that (with some qualifications) they do trust other people. That comparison reflects not paranoia on the part of poor kids, but the malevolent social realities within which they live and the fact that people and institutions have so often failed them.

parents in poor neighborhoods are more likely to experience depression, stress, and illness, which in turn "are associated with less warm and consistent parenting.