The reason Gatsby Curve was devised by economists to show how social immobility rises with increasing inequality of wealth. That is, as inequality increases it becomes consolidated, more rigid and harder to change; it becomes increasingly hard for a new Great Gatsby to occur. Politically, this threatens the desolate man democracy, considering that it leads together with situation wherein the wealthy manipulate the system to incredibly advantage and establish what is, in effect, an oligarchy. Could trend seems to have been seen by professional economists for a lot of years, it is only recently that politicians have come into prominence in Britain and the us who understand the danger, and in order to try to reverse facebook is the dominant before the democratic system loses the effectiveness of self-healing.
In this scenario, function of the billionaire businessman, Donald Trump, is known as the bid of the already wealthy to gain ever greater control of government. Their aim is to lift the restraints on business and continue progress of gathering all newly generated wealth into very own hands. To reach a democracy, the wealthy must gain the support of millions of ordinary people whose interests they will not serve. They gather votes by creating alarm over immigration, exaggerating the threat of international terrorism and guaranteeing the authority to carry firearms.
Extreme right-wing politicians like Donald Trump seek to keep the current trend on the Great Gatsby Curve towards increased inequality and greater intergenerational immobility. However, within both the UK and the country politicians have emerged who are familiar with the danger and will strive to reverse the trend. These personalities, on the left of politics, are supported by large numbers of people, especially younger people, but challenging less popular with the established political figures in their parties who believe that their radical policies will make them unelectable. Both Jeremy Corbyn in the UK, and Bernie Sanders in the USA, have struck a chord with the masses and seem determined to prove their more orthodox colleagues inadequate.
The coming Presidential election in united states is quite likely to be as vital for the preservation of democracy as was another method World Warfare. There is growing resentment at ever rising company dividends and executive salaries while average wages stagnate and governments refuse to introduce money wage. With greater numbers sinking into poverty, as well as more conserve are arriving to realise that the opportunity to become a new Great Gatsby is denied them. To create to resolving the issue is to take steps to reduce inequality by increasing taxes on the rich, preventing companies from avoiding taxation, providing free education, guaranteeing a living wage and providing comparable benefits for your sick and unemployed. By working towards these goals, Bernie Sanders can return America to its former leading position associated with world economy and restore to a coming generation the American Dream.
Today in history:
