New book on income inequality in the UK features basic income
The Richer, the Poorer charts the rollercoaster history of both rich and poor and the mechanisms that link wealth and impoverishment. This landmark book shows how, for 200 years, Britain’s most powerful elites have enriched themselves at the expense of surging inequality, mass poverty and weakened social resilience. It reveals how Britain’s model of ‘extractive capitalism’ – with a small elite securing an excessive slice of the economic cake – has created a two-century-long ‘high-inequality, high-poverty’ cycle, one broken for only a brief period after the Second World War.
Why, he asks, are rich and poor citizens judged by very different standards? Why has social progress been so narrowly shared? With growing calls for a fairer post-COVID-19 society, what needs to be done to break Britain’s destructive poverty/inequality cycle? The book has two chapters on the way forward and this includes adopting a guaranteed income floor through a modified basic income along with a top-up social dividend paid through a citizen’s wealth fund.
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