Inequality and Economic Policies: Just Tax the Rich?

The grievances of the working class are justified. Since the 1970s, a number of workers have been trapped in low-wage employment. Despite periods of economic growth—such as the Reaganomics era in the 1980s, the dotcom boom of the 1990s, and the housing boom of the 2000s—these workers have not experienced meaningful wage increases. Instead, they have faced challenges such as unemployment and job insecurity during economic downturns, including the crises of 1974, 1982, 1991, 2001, 2008, and 2020. Additionally, the high cost of housing has made it difficult for many workers to relocate to cities with better job prospects, while rising healthcare expenses continue to be a significant burden. Simultaneously, the widening gap in wealth and income between the rich and poor has fueled growing social discontent.

No solution in sight?

The issue of inequality has persisted for decades. Worse, the rise of robotics and Artificial Intelligence could exacerbate the issue, as well as the costs associated with the transition to green energy—factors that could disproportionately impact low-income households.

This book aims to address fundamental questions surrounding the issue of inequality. It will debunk naive proposals for the government to realistically address the issue. Despite the complex nature of the issue, it is essential to lay the foundations for exploring viable solutions.