Income inequality is our greatest threat, for it’s fuel for many other threats

Inequality News

Income inequality is our greatest threat, for it’s fuel for many other threats
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Inequality and insecurity: The resentments they generate will make it ever more difficult to find solutions to our big collective problems

Economic inequality and poverty have always been important social issues in themselves, but they also matter because of the importance of the issues whose solution they prevent.

As such, both climate change and periodic pandemics are collective policy problems, which require collective responses. Finding and agreeing on effective solutions to collective-action problems require some level of social cohesion. That requires a shared perception that the individual costs and benefits of action are being fairly distributed, which increasing economic inequality destroys.

As a consequence, Canada has become a place of increasing economic inequality and rising social instability. Big collective problems such asHow exactly is inequality ruining social cohesion? Part of the problem is that the rising income share of the top 1 per cent has created new highs of conspicuous consumption and new potential markets for luxury goods.

And the resentments created by these implications of rising inequality destroy the sense of fairness and the social cohesion necessary to find collective solutions to the big existential common problems facing Canadian society of recurring pandemics and continuing climate change.

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