Income inequality has been big in the news for some time. What is it? What can we do about it?
Any experienced BUX player can tell you that the difference in players' scores (income inequality) results from the difference in players' performances. Better players who spot and take advantage of more opportunities usually score higher than players who usually miss opportunities and make mistakes.
An individual's ability to create and sell value is the key. That's what this game is about. More value created, developed and sold, more reward to the value creator– under normal circumstances.
So, income inequality comes from the value-producing performance of the individual and environmental policies and practices. Since policies are usually top-down directives from Washington, it is up to us to maximize our own bottom-up value-producing efforts. Put in BUX terms, these efforts collectively help players themselves, the community (all players in the game) and the nation (the total money in the game).
As a specific example, it is highly unlikely that a single player in a game, playing with peers, can amass a lot of chips alone, for any period of time. Unless she is selling assets, there would be no one to pay her. Generally, players make more money when everyone in the game has chips (income equality) and are paying each other freely for what they need.
The real implications of this are playing out in our economy. Many businesses (top players) are feeling the pinch because consumers (average players) are generally low on cash. They just don't have the money to spend. Luckily the top players can sell their products to other games– in the global market.
If the consumer had more expendable income (more income equity), businesses would earn more money. A win-win for all.