“Spreading the wealth around” was one of president-elect Obama main thrust upon which he was elected. It was clearly shown to be the opposite of Senator McCain’s thrust of growth at all costs.
This mandate to bridge the wealth gap in the US cannot also be applied internationally, given that so many governments and particularly people all over the world are supporting Mr. Obama.
The real challenge in the US and less so abroad is to make the financial system serve the common good. Economist Robert Shiller in his book about the Suprime Solution and in his article in the New York Times of November 9 has pointed out to three main strategies.
Besides these institutional changes corporations such as Blockbuster are instituting “Say on Pay” which seems to work in the UK given that executive compensation has been rising less rapidly.
Finally, if wealthy people in the global North and South become convinced, that, in the Earth Charter words, “Being more rather having more”, there will be further acceptance for a genuinely progressive taxation system.
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