By Carol Ryan
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
Are you better off than you were twenty years ago? Probably not relative to very rich people today, but what about relative to you, or to someone your age and position twenty years ago? Income inequality has been called the defining issue of our time. Powerful leaders, from President Obama to Pope Francis, have cited it as evidence that the unfettered capitalism that has enriched the wealthy hasn’t been shared. Of course, there’s a difference between the gains in income being shared evenly, shared a little, or making everyone else poorer. In many ways the average American is much better off than he used to be; in other ways he’s worse off. But even if we focus on what’s gotten better, we may still need to worry about the future.
The rich, to mangle F. Scott Fitzgerald slightly, they rationalize differently than you and me. Whether they succeed or fail, they’ve always got a pseudo-scientific excuse. If they do well, it’s because their habits are better than those of the rest of us peons. If they do badly, it was their upbringing, since wealthy parents too readily substitute lucre for love.
By Kim Kyung-hoon
Showing the great contrast between China’s rich and poor in photos should be simple. After all, both exist just a few blocks away from each other or sometimes in the same place in any city. A poor family rides a rusty tricycle as a shiny Ferrari passes by. Just around the corner from an expensive restaurant, poor migrant workers eat cheap meals and take naps on the street.
By Erik De Castro
Taking photos of poor people is nothing unusual for me, as the poor comprise more than a fourth of the Philippine population of nearly 97 million. They are also the most vulnerable during disasters such as typhoons, landslides and fires that frequently dominate the headlines in the country.
By Heinz-Peter Bader
Remember the James Bond film Goldfinger and how the characters handled the gold bars without even thinking of their weight? Each gold bar at Fort Knox weighs about 12 kilos (24 pounds), as much as six six-packs of beer. But they could certainly buy you a lot more Champagne!