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The rich get richer but absolute poverty is being beaten


WE’RE regularly told that rising inequality is a great social evil: that it’s far better if places are more equal, that people are more equal, whatever the level of actual wealth that has been achieved.

At which point people like me start shouting “Piffle!”. For while it might indeed be true that at any level of general wealth less inequality might be a good idea (depends upon your personal views really, but it’s possible) it seems clear and obvious that everyone being equal at $1 a day is worse than having more inequality but most people are on much more than $1 a day.

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Posted: 10th, June 2013 | In: Money | Comment