This article explains how the balance of power between markets and government has shifted over time in most areas of the world. This has led to the spread of inequality. The argument then turns to the reasons why everyone benefits from less inequality. The problems and approaches will differ by country and region.
One of the motivations for reducing inequality was to contain the spread of socialism and communism. The weakening of these threats has reduced the level of competition between economic systems. The lack of competition in world of ideas may be partially responsible for the excesses that we are seeing, particularly in anglo american economies. The excesses are destroying popular support for these economies which will reach a tipping point at some time.
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