What caused such widening of income inequality?

What caused such widening of income inequality?

rich people investing abroad

welfare increasing in place of wages

But you are wrong.

Something something LIBRULS

Neoliberalism

Three decades of "free market will fix it" (i.e. fiscal conservatism).

Free flow of capital meant that money and resources can be shifted around the globe.

In absolute human terms this meant millions of people around the world now have half decent jobs in manufacturing or services.

But this meant alot of the working class in the first world would be left out

Decades of labeling anyone that objects to unfairly low wages as an unamerica gommie, and systematically killing labor syndicates/unions.
Pretty much using the USSR as a bogeyman for internal politics.

Relevant

neoliberalism

Yet strangely enough this doesn't seem to be that big an issue in other countries that have had neoliberal policies :")

Because there's really only two ways to make money, and one of those two involves already having money.

Except it is.

*Outside of bitching lefties who would rather see the rich poorer

There's pretty much always been wealth inequality, I don't know why people act like this is some kind of recent development.

?

You seem to have trouble with reading comprehension

...

It's *growing* and that is a recent development.
Capital grew at a super low rate in the past. It's only since the late 19th century that you saw annual growths above 2-3% as typical.

Because that's relevant to the discussion at all.

Where do you live? That's not true except in Scandinavian countries

Financialization of the economy

Rather it was economization of finance.

This.
This graph shows the result of neoliberalism:
The greatest decline in poverty ever seen.

I don't see what the problem is. Isn't free movement of capital and people a good thing? Sure this comes at the expense of some first world workers but it has lifted up many developing nations to make them closer to their first world counterparts. It's an egalitarian's dream come true.

Things are getting worse there as they ramp up neoliberalism.

>Isn't free movement of capital and people a good thing?
No, because, given the choice, you want people to prosper based on merit and their contributions rather than the fact that they were born with money.

You're implying neoliberalism caused it, which is dubious. Maybe poverty is declining in spite of neoliberalism.