When billionaires talk about income inequality, it’s time for the people in the middle to hold on to their wallets.
Per a Bloomberg article, “Billionaires . . . Bemoan Inequality,” billionaires at the World Economic Forum are putting their heads together about income inequality. Proposed changes to capitalism will be discussed in a panel scheduled for today, “Remodeling Capitalism.”
On the subject of changes to the capitalist structure, the conference is highlighted by such quotes, per the Bloomberg article, as, “these growing inequalities are not acceptable,” from Rahul Bajaj, chairman of Bajaj Group, and that business should concentrate on “a more just distribution of wealth,” by Ukrainian billionaire Victor Pinchuk.
It will be interesting to see if their confabulation has any effect on the capitalist system, and if so from where the “redistribution” originates.
Yesterday, I had a guest post appear on The Daily Capitalist.
This post opens up a series of short commentaries on the World Economics Forum (WEF), the annual economics and business conference convening today in Davos, Switzerland. These commentaries will continue through the end of the conference on January 29.
Have you noticed that over the past few years America’s obsession with ratings has increased? The X Factor. American Idol. Dancing with the Stars. Let’s face it. America loves to rate stuff. And this uber-obsession with rating things has spilled over into business.
