I’ve been posting stories about the fundamental failure to grasp the inequities of the current economic moment. The following from Will Hutton in the Observer sums up some of the key points nicely.
Inequality’s sole possible rationale is that, however repugnant, it is the price we pay for the capitalist economy to work effectively.
But the capitalist economy is not working effectively, even while inequality has surpassed the levels of Edwardian England.
We’ve slipped back to Edwardian inequality. What happens when we hit Victorian? At what point does the social fabric tear to the point of ungovernability?