Welcome to those interested in Income Inequality
Income inequality. An abstraction for some, a reality for others.
What is it? How does it originate? What can be done about it?
Generally, income inequality is the difference in incomes received by individuals in the economy. Some earn a lot from doing what appears to be almost nothing and others earn almost nothing for working a lot. Why is this and can it be fixed?
Income inequity exists in levels, categories and groups. Each category has its own normal range of compensation. We can address what to do in each category or at each level but we can do nothing about the individual groups themselves. Can one change groups? Definitely, but this change is more likely if one is at or near the top of their group. The best we can do is give guidelines for how to move up in one's group. A less than talented piano player cannot become a famous virtuoso if she continues to be a less than average piano player.
Also, there are laws, rules, policies and institutions that favor different groups for different reasons. We (us, now) can do nothing about this either.
Whatever group you're in– whether wealthy; powerful; middle-class and ambitious; smart and broke; poor, honest and talented; middle-class and hopeful, there is a step-by-step process by which you can do better to move up in your group. The process generally involves:
• experiencing your place in the big economic picture,
• understanding the mechanism of- and how to play the economic game,
• getting good at the game,
• evaluating ones' self for personality, strengths, talents, likes, preferences...
• choosing or designing your best career (to add your maximum value to the economy),
• using resources to develop your career to its most valuable, and
• getting that developed value into the economy to be exchanged for payment (money).
This is the same process required to be a consistent BUX winner.
Any experienced player can explain why some players are better than others. It's about understanding of the big picture and managing money and resources to create and develop more value to be exchanged for more money. If, on the other hand, if one does not see or understand the big picture, understand the structure of the economics game, does not understand him/her economic self, cannot see opportunities and has little or no ability to develop value, there is little chance that assistance will be effective until these fundamental challenges are overcome. (The pump needs priming first.) Once these fundamental challenges are overcome, assistance (i.e., education, training and skills development) becomes critically valuable, necessary– and in demand.
Hopefully, a bottom-up effort resulting a spiraling up of collective value and payment will result in more personal satisfaction and a shrinking in income inequality.