The gap between the very richest and the rest of us has increased continuously over the last thirty years. Did you know that top 10% of population earns on average 6 times more than the bottom 90%? Many factors contribute to this growing gap, but one of the most significant is least understood: the role of money creation by banks.
As a volunteer for Positive Money, I’ve spent much of the last two years investigating the connections between inequality and the money system. The evidence I’ve compiled suggests that there are several factors contributing to the growth of inequality, but at the heart is the operation of the banking system. If we want to tackle inequality, we need to change the way that money is created.
I’ve written up these initial findings into a 16 page academic paper, Banking, Finance and Income Inequality, which you can download below. The paper outlines some of the connections between the money system, the wider economy, and inequality. There’s further research to be done on some of the specific connections, but this lays out a framework for understanding the system as a whole.
There is lots of discussion going on about inequality and its causes, but one of the most significant factors – the role of money creation by banks – is not discussed.
We need to bring more people into this conversation. Inequality has grown at an alarming rate already. And the money system we have guarantees that it will get even worse.
Can you take a minute to share this graphic with your friends?
1. You can share it on Facebook or just forward this email along to your friends.
2. Tweet it – try to think of organisations and people you think would be interested
3. Email the video to friends:
Text that you can use:
Hi, I think you would be interested to see this video: Why are the rich getting richer? http://bit.ly/10q0qxG
Together we can change the conversation and ultimately address one of the major causes of inequality.
