Saturday, August 24th, 2019

What Is Wrong With The 1%?

Published on November 3, 2015 by   ·   No Comments

may-day-protests

CollectiveEvolution

“There is something fundamentally wrong in treating the Earth as if it were a business in liquidation.”

Herman E. Daly

According to the latest 2015 Credit Suisse Global Wealth Report the top 1% of wealth holders now own half of all global household wealth, much of this wealth has been concentrated in the United States and Europe. A 2014 report by Oxfam warned that the richest 85 people across the globe share a combined wealth of £1tn, as much as the poorest 3.5 billion of the world’s population. (1a)

While most of us are aware of the inequality in modern western society it is much less known what impacts such wealth creation have throughout society and the environment. While there are many wealthy individuals whom contribute to various causes, charities and philanthropic pursuits there is no denying the growth and continued exploitation of the planet in an effort to increase wealth is having devastating consequences. Today much of this  wealth is now concentrated at the very elite and top percentage profile.

Don’t Understand the Concept of Uneconomic Growth

We are now experiencing what many call, uneconomic growth. Uneconomic growth is where there is a decline in the quality of life on Earth. With ever expanding focus on ever increasing profits, companies, executives, shareholders and owners continue to exploit resources and people in an attempt to maximize profits. This profit driven motive dominating the mainstream and the economic model is creating inequality not just in society, but throughout the natural world. For continued profits, which keep shareholders and owners happy there must be a corresponding increase in profits. These profits can only come about due to the use of more resources. It doesn’t matter which way you spin it, the concept and very premise economic growth is founded on  turning natural resources into goods and services.

Increased Wealth Doesn’t Equal Greater Levels of Happiness

We have all heard the saying, “Money can’t buy happiness.” Recent psychological research has not only shown the truth of this maxim, but has begun to demonstrate that when people organize their lives around the pursuit of wealth, their happiness can actually decrease.

Research on how happiness relates to material wealth by psychologists Edward Diener, Ph.D., and David Myers, Ph.D., clearly documents that people are happier if they live in wealthy, rather than poor nations. However, once individuals have enough money to pay for their basic needs of food, shelter, etc., money does relatively little to improve happiness. Further, increases in neither national economic growth nor personal income have much effect on changes in the personal happiness of citizens.

Read More HERE

Share the Truth:
  • Digg
  • Facebook
  • Twitter
  • Google Bookmarks
  • Global Grind
  • MySpace
  • Ping.fm
  • Tumblr
  • email

Readers Comments (0)




Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.

Daily News and Blogs

Listen to the TIS Network on blogtalkradio.com

Check Out Pop Culture Podcasts at Blog Talk Radio with TIS Network on BlogTalkRadio

Like us on Facebook

Advertise Here

Advertise Here