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Economic growth and wealth creation matter. But when so much wealth flows to so few people, something is not working.<\/p>Economic growth and wealth creation matter. But when so much wealth flows to so few people, something is not working.<\/p>
In 1992, political strategist James Carville put up a sign in Bill Clinton\u2019s campaign headquarters. It read: \u201cThe economy, stupid.\u201d<\/p>
The message was simple. Whatever else was happening, the economy was the issue shaping people\u2019s lives.<\/p>
More than three decades later, the economy still matters. Economic growth creates jobs, raises living standards and gives societies the resources to invest in better homes, services and infrastructure. Wealth creation matters too. Enterprise, investment and innovation are essential to a successful economy.<\/p>
The problem is not that wealth is being created.<\/p>
It is where that wealth is going.<\/p>
A widening divide<\/strong><\/p> In its latest inequality report, Resisting the Rule of the Rich<\/u><\/a>, Oxfam found that the number of billionaires has passed 3,000 for the first time and billionaire wealth is now at its highest level in history. Meanwhile, one in four people globally faces hunger.<\/p> That level of inequality cannot be dismissed as the inevitable price of prosperity.<\/p> Capitalism can be an extraordinary engine for growth, creativity and human progress. But it works best when its rewards are shared widely enough for people to believe the system works for them too.<\/p> When wealth becomes concentrated in fewer and fewer hands, it does more than widen the gap between rich and poor. It affects who can buy a home, withstand a crisis, take a risk or influence the decisions that shape society.<\/p> This is not an argument against success. Nor is it about making everyone equally wealthy.<\/p> It is an argument against an economy in which some accumulate more wealth than they could spend in multiple lifetimes, while millions of people work hard without achieving basic financial security.<\/p> A message worth wearing<\/strong><\/p> Our It\u2019s Wealth Inequality, Stupid<\/strong> T-shirt updates one of modern politics\u2019 most recognisable phrases for one of the defining economic questions of our time.<\/p> It has been worn by inequality campaigner Gary Stevenson and comedian Cody Dahler.<\/p> Because the question is not whether we should grow the economy or create wealth.<\/p> We should.<\/p> The question is whether the benefits are reaching enough people, or whether more and more of what we create is flowing to those who already own the most.<\/p> Economic growth matters. Wealth creation matters. Capitalism can work.<\/p> But this level of disparity cannot be right.<\/p> It\u2019s wealth inequality, stupid<\/strong><\/p> <\/p> Shop Wealth Inequality Men\u2019s<\/strong><\/a> \/\/ <\/strong>Shop Wealth Inequality Women\u2019s<\/strong><\/a><\/p>","urlTitle":"its-wealth-inequality-stupid","url":"\/blog\/its-wealth-inequality-stupid\/","editListUrl":"\/my-blogs","editUrl":"\/my-blogs\/edit\/its-wealth-inequality-stupid\/","fullUrl":"https:\/\/thenewmodel.co.uk\/blog\/its-wealth-inequality-stupid\/","featured":false,"published":true,"showOnSitemap":true,"hidden":false,"visibility":null,"createdAt":1790091513,"updatedAt":1790093474,"publishedAt":1790093474,"lastReadAt":null,"division":{"id":318012,"name":"New Model"},"tags":[],"metaImage":{"original":"https:\/\/images.podos.io\/jquyyrh7462mljnjzukl4kra6jawbzvfnwwgloxsewykpa9f.jpeg","thumbnail":"https:\/\/images.podos.io\/jquyyrh7462mljnjzukl4kra6jawbzvfnwwgloxsewykpa9f.jpeg.jpg?w=1140&h=855","banner":"https:\/\/images.podos.io\/jquyyrh7462mljnjzukl4kra6jawbzvfnwwgloxsewykpa9f.jpeg.jpg?w=1920&h=1440"},"metaTitle":"","metaDescription":"","keyPhraseCampaignId":null,"series":[],"similarReads":[{"id":57995,"title":"Why Clownfish Rarely Leave Home","url":"\/blog\/why-clownfish-rarely-leave-home\/","urlTitle":"why-clownfish-rarely-leave-home","division":318012,"description":"Clownfish are famous for many things. Bright orange stripes. Questionable parenting in a Disney film. But one of their most interesting traits is much less well known: most clownfish spend their lives remarkably close to home.","published":true,"metaImage":{"thumbnail":"https:\/\/images.podos.io\/8yqxlhzreu5b2ilxecbtc7scoj5w9t4gkbopcof9dznwfqom.jpeg.jpg?w=1140&h=855","banner":"https:\/\/images.podos.io\/8yqxlhzreu5b2ilxecbtc7scoj5w9t4gkbopcof9dznwfqom.jpeg.jpg?w=1920&h=1440"},"hidden":0}],"labels":[]}