-Image by Copilot, modified by Cluan Where we are now Great wealth has indeed been created over the past 40 years. However, “the invisible hand " of the market, which free marketeers are fond of citing which was to bring wealth to all, has been busily transferring wealth upwards, rather than allowing any to “trickle down” as promised when giving tax cuts to the already wealthy. Under pressure from corporations and wealthy individuals, both top tax rates and company taxes have been progressively cut, leaving many countries with deep budget deficits and growing inequality, even before the recent automation and AI layoffs. For the rest of the population, life has become less secure and more difficult since the 1980s and the changes are coming much more swiftly than in the past -far faster than society is able to absorb the displaced workers. We see the evidence all around us, whether it is in crumbling infrastructure, boarded up shopfronts, rising homele...
Veronika Wild
Practising Geographer - nature culture places people