web analytics

Inequality for all

Written By: - Date published: 11:08 am, February 11th, 2014 - 14 comments
Categories: economy, equality - Tags:

ceo pay

 

There’s been an excellent Insight on Radio NZ on Sunday / Monday, looking at the income gap and the consequences for our society – the loss of social mobility, the loss of health (mental & physical) for all, the increased incarceration, drug use etc etc.

There’s also been recently PBS coverage in the US, with a good round-up on this page, looking at the consequences of US Congress Republicans stopping all unemployment benefits beyond 26 weeks (even if individual States want to).

It’s a familiar story – the lack of realisation of how bad inequality is (or how bad its effects are), the massive increase in wealth for the 0.1% in the last 30 years – but one worth repeating until we change society for the better.

14 comments on “Inequality for all”

  1. greywarbler 1

    I agree that this program is a good listen. As a backup to Ben’s post I’ll repeat details from an earlier comment I put up.

    Income inequality –
    amongst others featuring Max Rushbrooke, is well worth a listen. And gives interesting ‘insight’ into how Phil O’Reilly, and various economists, can explain our economy as being satisfctory and understandable. Myself I feel they are dissembling. What do you think?

    was on Sunday 9/Feb/2014 at 8.15 am and is
    to be repeated on Radionz on Monday 10 February at 7.30pm
    and Wednesday at 12.30 a.m.

    http://www.radionz.co.nz/national/programmes/insight
    Insight – Sunday 9 February 2014, with Philippa Tolley
    NZ Radio Awards 2013: winner of the Best Documentary or Feature Programme & co-winner of Best Daily or Weekly series under an Hour Duration
    Insight for 9 February 2014 – Does Rich -Poor Divide Matter? ( 27′ 13″ )
    Penny Mackay investigates whether a big income gap really matters. Share Download: Ogg  |  MP3

    gap rich – poor
    Once one of the most equal nations in the world, during the 80s and 90s New Zealand’s income gap widened faster than any other developed country.
    Equality advocates say that is too wide and is responsible for social problems including high rates of mental illness, teenage pregnancy, violence and incarceration.
    Others say obsessing about a “gap” is a distraction from tackling poverty itself.

  2. Colonial Viper 2

    The profits being retained and distributed by corporates is of huge concern. Trillions of dollars stashed in tax havens world wide while austerity is being enforced on the poor and vulnerable.

    • Bill 2.1

      Or, not stashed but thrown onto the roulette wheel of derivatives and other strange financial phenomena – some that twist the price of real world goods in an upward spiral (ie, futures trading bumping the cost of basic foodstuffs like wheat and what not).

      Or not stashed and then lost on the roulette wheel of weirdness to be replenished by the simple act of taking 10% of all bank deposits of ordinary savers (the deposits guarantee scheme, I believe it’s called?)

      • Puddleglum 2.1.1

        Wealth in assets (shares, bank deposits, land, etc.) is actually just a promissory note on future production. Economics is not about wealth but about production.

        That helps explain why those with the most wealth have the most invested in keeping this production machine growing. Without future production (and heaps of it) their wealth is completely notional. And if the wealth is notional, so is their power.

    • tricledrown 2.2

      CV borrow and spendkey has borrowed copious amounts of this laundered money which is feed back into the international banking system where dumrse govts pay top interest while the big trading blocks print to avoid inflating their currencies and damaging theirproductive sector unlike double dipstick and shonkey the money trader.

      • adam 2.2.1

        The quiet mistake from on high, was what the financial people did a wrong and there is no cure for this gamble. They poured money into asset backed securities (ABS). One part was a resource hunt and another … was effectively a huge betting system on poor and working people being able to pay back their loans and mortgages. Look up Richard Wolff he has written about it.

        In 2007 it hit the wall, and is still hitting the wall – It is the top with money to burn looking for a quick buck and a bottom being squeezed – hence a financial shit storm. They have shored these ASB’s up, by the US federal government, and the Germans taking on the debts. So delayed the effects of it other words. And guess what – the financial institutions of the world are out betting again on these ASB’s . So I’m thinking by June 2016 at the latest, and the wheels will come off again and we will be in another recession. Sooner maybe, because one of the other things they are betting on is snatching resources, which are easy to get. Hmmmmm sound familiar?

    • aerobubble 2.3

      For every dollar earnt there is a dollar of debt (more or less). So central banks have been printing money, making debt, this debt seemingly stabilized the banking system, but its also lead to huge amounts of money sloshing around financial markets that reflect little on the real economy.
      Its not about them holding on to it per se, its about the shear amount of it.

      Now take Joyce in the parliament today. Joyce could not be honest, that since top payout for CEO is rising, and low pay jobs are falling in number, of course weekly average wages is rising, and so Norman is right to point out that for most people their wages aren’t keeping up with inflation.
      That’s the effect of all this money sloshing around big finance, Key’s government saying that
      wages aren’t a problem, since all his mates are getting above inflation pay rises.

  3. captain hook 3

    what are the poor folks doing for Christmas this year?
    You cant be a winner unless there are losers and the people running this Nationa government all think they are winners.

    • aerobubble 3.1

      A guest on Moro called the discussion nuts. She had been trying to explain how obesity from fast food needs better regulation but was continually being interrupted by a neo-liberal who would have none of it. Now we know neo-liberals are dumb, since it only took thirty years during year on year cheaper energy for their ideology to crash the world banking system. But here’s the surprise, by using neo-liberal hero Reagan’s claim that lower taxes means large tax revenue the child obesity
      crisis can be exposed. Since lower taxes spurs activity, more fast food is sold, with more fast food comes more obesity, and so increased healthcare costs using up the extra revenue (and then some).

      So National tax cuts to business, without better regulation of fast food, leads to a inefficient use of resources that turns healthy child into walking bags of excess fat and ill health. You see the dumb
      neo-liberals see no point for regulation, they saw no point to mine inspectors, or for forestry inspectors, until the costs are mounting and will means tax rises for them!!! That’s why the
      Moro show is nuts, and I love it, getting the moron right out on live radio to show off how
      utterly foolish their denial do nothingness is really.

      You see tories were losers, they equated the wealth that cam from cheaper high density fuel with the work of tory ideology, that ideology of hands off, do nothing-ism, was responsible
      for the growth of the last thirty years. In fact it was just a creaming machine, cropping the cream off the real value of the economy and then having to churn it through massive financial machines to create profits for the new high priests of our society, the bankers and currency exchangers.

      The last thirty years have been a economic dark age, like its historical europes dark ages, where
      little happened, everyone thought they were doing great living with growing populations in cities with open sewage, water borne diseases, etc. Our black plague is now upon us, symptoms are
      clear, huge bonuses to the top despite falling efficiency, and pending disasters being dismissively
      ignored. The cult of Thatcher grew into a church, a church out of touch and whose bible is failing the people.

  4. Ennui 4

    Recently I have been catching up on Ugo Bardi and his conversation with Dmitri Orlov re collapse in Italy. http://cluborlov.com/ I also concurrently listened to some lectures by Tariq Ali (the original “street fightin man”). There was a common undercurrent that emerged between the headlines…that of taxation.

    They contend that we are watching the relative failure of wages to keep up with inflation and costs, plus we are watching the pay differentials between workers and capital blow out. A lot of us view this as a progression to neo-feudalism but what may have escaped many is the role of the state in the making of a new serfdom.

    Orlov notes that the state when starved of cash from economic decline, and thus income and consumption, then taxers need to find new revenue sources. Bardi agrees the property of the populace is a good starting point. In effect the wealth or debt of the individual is eroded or as things unwind confiscated by the state. Those with huge wealth tend to be closest to the state and more immune, they become the new feudal aristocracy. The masses descend into debt servitude.

    Most people doubt that this is possible in “democratic” societies, if so ask yourself “why in a democracy have we allowed the erosion of individual liberties and rights, and such a wealth gap disparity”? (The answer is that we dont have a truly functioning democracy, it has been captured as demonstrated by the track record of the last thirty years).

    So the real worry for us as individuals: the state, in the absence of economically generated tax income, may decide on direct taxation per capita (i.e send you a bill regardless of income and property holdings), demand payment and seize you or your assets. If you dont think this happens think of the Biblical record, think of Rome in decline, and more recently as attested by Tariq Ali the peasants in China have been taxed per capita. Be very wary.

  5. ropata 5

    Jeremiah 5:26-29
    “My people are infiltrated by wicked men,
    unscrupulous men on the hunt.
    They set traps for the unsuspecting.
    Their victims are innocent men and women.
    Their houses are stuffed with ill-gotten gain,
    like a hunter’s bag full of birds.
    Pretentious and powerful and rich,
    hugely obese, oily with rolls of fat.
    Worse, they have no conscience.
    Right and wrong mean nothing to them.
    They stand for nothing, stand up for no one,
    throw orphans to the wolves, exploit the poor.
    Do you think I’ll stand by and do nothing about this?”
    God’s Decree.
    “Don’t you think I’ll take serious measures
    against a people like this?

  6. Crunchtime 6

    A major issue often omitted when talking about inequality is Democracy.

    I have often heard it that when salaries at the high end are more than 10 times the average worker’s salary, democracy itself is undermined. Because more money means more political influence.

    We are a long long way past 10 times – and this is why we have domination of mainstream political discourse by the right wing. More inequality gives more POLITICAL power to the rich as well as any other thing.

    This is what we should be most concerned about at the top end of the scale.

    In tandem of course, is all the woes, hunger, poor morale, poor standard of living, suffering at the other end of the wealth scale. These people stop counting, stop being counted, get left out, get left behind. We all suffer as a result (apart from those too far away from it and too rich to notice).

    • blue leopard (Get Lost GCSB Bill) 6.1

      +1 Crunchtime

      • aerobubble 6.1.1

        Average wages rise when the richest paid employees get above inflation rises and the number of poor paying jobs disappear leaving unemployment higher. But Key thinks this is great.

Recent Comments

Recent Posts

  • Labour and Greens sign historic agreement to change the Government
    The Labour Party and the Green Party have announced today they have signed an historic agreement to work cooperatively to change the Government. The Memorandum of Understanding (MoU) between the parties commits them to working cooperatively to change the Government… ...
    15 hours ago
  • Budget ignores vital role of quality ECE
    Last night I watched a fascinating programme about the Otago University 45 year study of 1000 New Zealanders. It concluded that there are ways to intervene and support people who are at risk of becoming violent. One of the key… ...
    GreensBy Catherine Delahunty
    1 day ago
  • More ice for Radio NZ in Budget
    Budget 2016 once again left our only public broadcaster, Radio NZ (RNZ), worse off. After eight years of funding freezes, you have to wonder if RNZ is being iced-out for ideological reasons. I believe public broadcasting is an important cornerstone… ...
    GreensBy Gareth Hughes
    2 days ago
  • Fisheries inquiry must be widened to include Trident
    The Government must widen its inquiry into the Ministry for Primary Industries to include its awarding of a company owned by Sanford and Moana Pacific Fisheries to monitor commercial fishing vessels, Labour’s Fisheries spokesperson Rino Tirikatene says. The Ministry for… ...
    2 days ago
  • Government spend up on state house sell off
    The Government has spent $28.9 million and has 129 officials working on its misguided state house sell-off, says Labour’s housing spokesperson Phil Twyford.  “This is a scandalous waste of taxpayers’ money on a policy that won’t deliver a single extra… ...
    3 days ago
  • Housing crisis has huge impact on education
    The National Government’s failure to get on top of the housing crisis is having a major impact on the quality of education a lot of school kids are getting, Labour’s Education spokesperson Chris Hipkins says.  “There are thousands of kids… ...
    3 days ago
  • Minister celebrates while arts organisations face cuts
    Maggie Barry was full of self-congratulations for her small arts announcement in the budget, ignoring the pain that a large number of organisations are facing due to her inaction, says Arts, Culture, Heritage spokesperson Jacinda Ardern.  “The Budget delivered a… ...
    3 days ago
  • Regions miss out again in Joyce’s Koru Lounge Fund
      The regions have missed out yet again with Steven Joyce offering just $10m a year for key regional development projects while trumpeting a bunch of re-heated announcements, says Labour’s Economic Development spokesperson David Clark. “The dairy downturn has put… ...
    4 days ago
  • Children’s Commissioner misses out in Budget
      The Office of the Children’s Commissioner has missed out on a much needed boost in this year’s Budget, meaning they will be forced to continue their reduced monitoring role of CYFs residences, says Labour’s spokesperson for Children Jacinda Ardern. … ...
    4 days ago
  • Communities miss out in Budget
    Budget 2017 has left community and NGO providers feeling exposed about the services they provide to vulnerable families especially in smaller towns and communities, says Labour’s Whānau Ora Spokesperson Nanaia Mahuta. “Approximately $40m will go into Whānau Ora to work… ...
    5 days ago
  • Budget2016: Two Worlds
    Sometimes I feel as if I live in two worlds. The world created by the National Government where everything is great and they’re doing a great job and the world as seen through the eyes of child advocates, community workers,… ...
    GreensBy Jan Logie
    5 days ago
  • Parekura would be proud – MTS gets boost
    The Labour Party is ecstatic that the Māori Party have shown support for one of Labour’s proudest policies, says Labour’s Māori Broadcasting Spokesperson Peeni Henare.  “The Māori Television Service was launched in 2004 by the late Hon Parekura Horomia. ...
    5 days ago
  • Māori housing in state of emergency
    The Government needs to declare a state of emergency for Māori Housing, says Labour’s Māori Development spokesperson and Te Tai Tokerau MP Kelvin Davis. “The extra $3 million a year Māori Housing Network fund will not scratch the surface in… ...
    5 days ago
  • State house sell off in disarray after provider pulls out
     The Government should cancel its planned sell-off of state houses after the second big community housing provider pulled out leaving the process in disarray, says Labour’s Housing spokesperson Phil Twyford.  “It is time for the Government to back away from… ...
    5 days ago
  • Nothing in Budget to help police to solve crime
    The Police Minister has failed to make communities safer with virtually no new money in yesterday’s Budget for police to address the appalling burglary resolution rates, says Labour’s Police spokesperson Stuart Nash.  “It’s a disgrace there’s no money or aspiration… ...
    5 days ago
  • Blog – Budget 2016: What about ordinary working people?
    Ordinary working New Zealanders don’t fare very well from this Budget. Setting aside the spin from the Government, it contains a lot to be concerned about and a fudging of the numbers. Green Party workplace relations spokesperson Denise Roche For… ...
    GreensBy Denise Roche
    5 days ago
  • Real wages go backwards for next two years
    New Zealanders’ real wages will fall for the next two years as the cost of living outpaces forecast pay rises, says Leader of the Opposition Andrew Little. “New Zealanders have been doing it tough for far too long. They expect… ...
    5 days ago
  • The Attack on Public Education – by a thousand cuts
    Budget 2016 is another step towards the free public education system being a memory from the past. The Budget freezes the operations grant for schools and does not sufficiently cover the real increase in numbers of students entering the education system.… ...
    GreensBy Catherine Delahunty
    5 days ago
  • The Attack on Public Education – by a thousand cuts
    Budget 2016 is another step towards the free public education system being a memory from the past. The Budget freezes the operations grant for schools and does not sufficiently cover the real increase in numbers of students entering the education system.… ...
    GreensBy Catherine Delahunty
    5 days ago
  • The give with one hand – take with the other Budget
    The Minister of Health has pumped out media releases to 20 District Health Boards heralding increases in funding for their regions, says Labour’s Health spokesperson Annette King. “But when you add population growth and inflation into the figures you get… ...
    5 days ago
  • Budget offers no hope of fixing housing crisis
    The Budget’s underwhelming housing measures will give New Zealanders no hope that National is capable of fixing the housing crisis, Labour’s Housing spokesperson Phil Twyford says. “There isn’t a scrap of an idea to help desperate young Kiwi families into… ...
    5 days ago
  • How the budget fails new New Zealanders
    Greens co-leader James Shaw was absolutely correct to say the 2016 budget is just papering over the cracks. There’s nothing in this budget to increase wages, address inequal pay for carers or deal with the shocking pay rates and employment… ...
    GreensBy Denise Roche
    5 days ago
  • Parents will pay more as school budgets frozen
    Parents will pay more for their kids’ education as a result of this year’s Budget after the Government froze operational funding for schools, Labour’s Education spokesperson Chris Hipkins says. “This means schools are effectively going backwards. They will need to… ...
    6 days ago
  • Sticking Plaster Budget fails the test
    Bill English’s penultimate Budget fails to tackle the structural challenges facing the economy – a housing crisis, rising unemployment, underfunded health and creaking infrastructure, says Labour’s Finance spokesperson Grant Robertson. “This Budget applies a sticking plaster to a compound fracture.… ...
    6 days ago
  • John Key fails middle New Zealand with no fix for housing crisis, more underfunding of health
    Middle New Zealand has again missed out in this year’s Budget with not a single fix for the housing crisis, and health and education woefully underfunded again, Leader of the Opposition Andrew Little says. “This Budget is just a patchwork… ...
    6 days ago
  • Labour Bill would back Kiwi jobs
    The Government’s $40 billion of buying power would go towards backing Kiwi businesses and jobs under a Labour Member’s Bill which will be debated by Parliament, Leader of the Opposition Andrew Little says. “My Bill – which was pulled from… ...
    6 days ago
  • Julie Anne Genter: My Budget 2016 wish is fairness
    When my parents first visited me in Auckland ten years ago, they remarked on how there were no homeless people on the streets. Coming from Los Angeles, they were used to seeing the impacts of horrendous inequality and a lack… ...
    GreensBy Julie Anne Genter
    6 days ago
  • Steffan Browning: Pesticide reduction and Organic Growth Strategy in Budget 2016
    Pesticide reduction The Budget is an opportunity for the Government to launch a pesticide reduction strategy that multiplies the Environmental Protection Authority’s (EPA) and the Ministry for Primary Industries’ capacity to reassess pesticides and other toxins.  The Agricultural Compounds and… ...
    GreensBy Steffan Browning
    6 days ago
  • Steffan Browning: Pesticide reduction and Organic Growth Strategy in Budget 2016
    Pesticide reduction The Budget is an opportunity for the Government to launch a pesticide reduction strategy that multiplies the Environmental Protection Authority’s (EPA) and the Ministry for Primary Industries’ capacity to reassess pesticides and other toxins.  The Agricultural Compounds and… ...
    GreensBy Steffan Browning
    6 days ago
  • Minister won’t fess up on wrong figures
    The Minister of Health was caught out telling porkies in Parliament today when he was asked about the number of people getting access to mental health and addiction services, says Labour’s Health spokesperson Annette King. ...
    7 days ago
  • Budget 2016 and our LGBTQI communities
    LGBTI people make up about a tenth of our population, and our communities face a unique set of needs and challenges. These challenges are caused or exacerbated by discrimination, invisibility and barriers to appropriate support. We have a long way… ...
    GreensBy Jan Logie
    7 days ago
  • Budget 2016 and our LGBTQI communities
    LGBTI people make up about a tenth of our population, and our communities face a unique set of needs and challenges. These challenges are caused or exacerbated by discrimination, invisibility and barriers to appropriate support. We have a long way… ...
    GreensBy Jan Logie
    7 days ago
  • Scrambled announcement policy on the hoof
    Paula Bennett’s scrambled desperate announcement that she will pay homeless people to move to the regions is just the latest evidence of the disarray this Government’s housing policy is in, Leader of the Opposition Andrew Little says. “This is policy… ...
    7 days ago
  • Police Minister admits resolution rates fall short of expectation
    Police Minister Judith Collins has admitted in Parliament current burglary resolution rates are not meeting the expectations of our communities, says Labour’s Police spokesman Stuart Nash “Out of 284 police stations in New Zealand in 2015, 24 stations recorded zero… ...
    7 days ago
  • Mojo Mathers: A better deal for animals in Budget 2016
    Currently we are failing animals in NZ. On the face of it farmed and domestic animals in this country have strong legal protection from abuse, cruelty and neglect. In reality it seems that only the very worst, most extreme cases… ...
    GreensBy Mojo Mathers
    7 days ago
  • Metiria Turei: What we need from Budget 2016
    Every family deserves a warm decent home.  Everyone believes that. This housing crisis is just the latest consequence of a Government who puts the interests of the few wealthy people above the needs of NZ families.  Families are doing it… ...
    GreensBy Metiria Turei
    7 days ago
  • Dairy exports fall of 11%: Budget action on diversification needed
    Dairy exports have fallen 11 per cent compared to this time last year, a fall of almost $1.5b, showing the Government must take clear action on diversifying the economy in tomorrow’s Budget, says Labour’s Trade and Export Growth spokesperson David… ...
    7 days ago
  • Investors driving families out of homes in South and West Auckland
    Investors cashing in on skyrocketing Auckland house prices are driving families out of homes in South and West Auckland and causing homeownership rates in some of our poorest suburbs to plummet, Labour’s Housing spokesperson Phil Twyford says. “New analysis shows… ...
    7 days ago
  • Budget must deliver on paid parental leave
    Budget 2016 must deliver 26 weeks paid parental leave by April 2018 – anything less will be short-changing families, says Labour MP Sue Moroney. “My Bill which is before Parliament this afternoon has majority support and does just that. I… ...
    7 days ago
  • Key’s “brain fart” on tax cuts news to English
    John Key didn’t tell his own Finance Minister he was about to go on radio and announce he wanted $3b of tax cuts, just days after Bill English ruled them out, says Labour’s Finance spokesperson Grant Robertson. “In Parliament today… ...
    1 week ago
  • What I’m looking for in Budget 2016 – A better start for our tamariki
    Ensuring the best start for our tamariki is a priority for me in everything I do. And so in Budget 2016, my first budget as an MP, I looking for the Government to make a real investment in the wellbeing… ...
    GreensBy Marama Davidson
    1 week ago
  • What I’m looking for in Budget 2016 – A better start for our tamariki
    Ensuring the best start for our tamariki is a priority for me in everything I do. And so in Budget 2016, my first budget as an MP, I looking for the Government to make a real investment in the wellbeing… ...
    GreensBy Marama Davidson
    1 week ago
  • Denise Roche: What I’m looking for in Budget 2016 Pt II
    Aotearoa’s new New Zealanders,  come to our country in vulnerable position: – often away from the culture, communities and families they know, sometimes in neighbourhoods without familiar faces and often encountering barriers to employment. With net migration at 50,000+ a… ...
    GreensBy Denise Roche
    1 week ago
  • Equal Pay and Budget 2016
    The last few years we’ve seen equal pay for women flagged as an undefined risk in the budget. This year we should expect to see this, as well as budgeted money to deliver equal pay to caregivers and funding for,… ...
    GreensBy Jan Logie
    1 week ago
  • Equal Pay and Budget 2016
    The last few years we’ve seen equal pay for women flagged as an undefined risk in the budget. This year we should expect to see this, as well as budgeted money to deliver equal pay to caregivers and funding for,… ...
    GreensBy Jan Logie
    1 week ago
  • A great Budget would
    A great Budget would embrace the challenge of our polluted rivers and move the money away from justifying the status quo water rules into cleaning up waterways. A great Budget would take the Ministry for the Environment freshwater budget and… ...
    GreensBy Catherine Delahunty
    1 week ago
  • Budget building materials policy backfires
    On the eve of this year’s Budget official figures show Nick Smith’s Budget 2014 centrepiece to reduce the cost of building materials has backfired, says Labour’s Housing spokesperson Phil Twyford. “Ministry of Business, Innovation and Employment officials have spent the… ...
    1 week ago
  • Smarter, Better, Cleaner, Stronger
    This Thursday Bill English will deliver his eighth Budget. Will it continue the trend of previous National budgets, making tertiary education less affordable, putting only token funds into innovation, and subsidising polluters? Budgets aren’t what they used to be. Once… ...
    GreensBy Gareth Hughes
    1 week ago
  • Govt must come clean on tax cuts in Budget
    National is making a mockery of the Budget process by dangling the promise of tax cuts but failing to include them in the Budget, says Labour’s Finance spokesperson Grant Robertson. “National’s tax cut promises have turned into a farce. One… ...
    1 week ago
  • Grant Robertson Pre-Budget Speech
    Today I want to talk about success. As we know success can come in many different forms, from the fact you all made it here at such an early hour on a Monday, for which I am very grateful, to… ...
    1 week ago

Public service advertisements by The Standard

Current CO2 level in the atmosphere