'Why Let the Rich Hoard All the Toys?'

Nicholas D. Kristof writes about the chasm between the have and have-nots in an op-ed piece for the NYT:

Our wealth has become so skewed that the top 1 percent possesses a greater collective worth than the entire bottom 90 percent, according to the Economic Policy Institute in Washington.


The problem is not that the rich are venal or immoral, and I buy into the Chinese mantra of the reform era: "To get rich is glorious." But today's level of inequality is unusual by American historical and global standards alike, and, as Stiglitz notes, evidence is mounting that inequality at the levels we've reached stifles growth and employment.

Great piece; well worth a read if you're like-minded. I love the kindergarten analogy.

I've always maintained that being wealthy in and of itself is fine. Everyone wants to have money, which is why my uncle plays the lotto every week. The problem is that the disparity between the rich and the poor in this country is downright perverse. Why should the elite control the lion's share of the wealth presumably to buy a yacht or twenty when those funds could be much better used improving society at large? Many shrug this off as simply being a byproduct of the free market, capitalistic system, but that doesn't necessarily make it right, morally speaking. This isn't about economics. It's about the sick underbelly of capitalism.