The Davos annual get-together with its $10,000 hotel rooms and $43 hotdogs has always served as a reminder of the vast and growing divide that separates the worlds richest and most powerful from the rest of us. But this years gathering seems to be rubbing that reminder in.
Davos applauds while Donald Trump celebrates a roaring geyser of opportunity. But in the United States and most of the rest of the world, few people are feeling any spray from a roaring geyser. How few? One answer from the global research firm Edelman Intelligence came just before this years Davos celebration opened.
Edelman last fall surveyed over 34,000 respondents across the world and found a growing sense of inequity. In developed nations, details a new Edelman report, less than a third of families see themselves as better off five years from now. Over three-quarters see elites getting richer while regular people struggle to pay their bills.
The super rich who fly their private jets into Davos every year and most of the rest of humanity simply live in two extraordinarily different economic universes, the one a world of wealth, the other a world of work. In the world of work, people depend on their sweat and skills to put food on the table and roofs over their heads. If they want to afford more and better, they put in extra hours. They take a second job.
In the world of wealth, the rich dont have to work ever harder to see their net worth spike. They let their assets do the heavy lifting. Sitting on those assets their stocks, bonds, real estate, and businesses brings dividends, interest, rent, and profits. Selling those assets brings capital gains income.
A truly sweet deal. A perpetual wealth-generation machine that swings into motion, as Seagrams heir Edgar Bronfman once related, for anyone who can afford to enter the world of wealth.
To turn $100 into $110 is work, observed Bronfman. To turn $100 million into $110 million is inevitable.
But added millions only become dependably inevitable when government helpfully greases the skids for wealths unfettered accumulation. And governments do that all the time, by everything from taxing the rich at rates that leave them barely inconvenienced to undermining worker rights to bargain collectively for a fair share of the wealth they create.
Donald Trump has done plenty of that greasing and made himself indispensable to the Davos crowd in the process. The global mega rich once saw Trump as a great disaster, and now, says Niall Ferguson of Stanford Universitys conservative Hoover Institution, theyre all a great deal richer than they were back then. These rich dont want the Trump boom to end. As Ferguson puts it: The dirty little secret of Davos 2020 is they all need him to get re-elected.
Not all the rich, of course, feel that way, and one group of more egalitarian-minded people of means the U.S.-based Patriotic Millionaires took their message to Davos Wednesday. In an open letter entitled Millionaires Against Pitchforks, the group decried the epidemic of tax evasion by the worlds wealthiest and called extreme wealth a sign of a failing economic system.
For that reason, the Patriotic Millionaires open letter to Davos 2020-goers continued, we urge you to step forward now before its too late to demand higher and fairer taxes on millionaires and billionaires within your own countries.
Added the letters 121 signers, a cohort that included a former Unilever CEO and Disney heiress Abigail Disney: We make this request as members of the most privileged class of human beings ever to walk the Earth.
Sam Pizzigati co-edits Inequality.org. His recent books include The Case for a Maximum Wage and The Rich Dont Always Win: The Forgotten Triumph over Plutocracy that Created the American Middle Class, 1900-1970. Follow him at @Too_Much_Online.
Read the original post:
The Evolution of 'Davos Man' into . . . Trump Fan! - Inequality.org
- History of Evolution | Internet Encyclopedia of Philosophy - December 9th, 2016 [December 9th, 2016]
- Evolution - Bulbapedia, the community-driven Pokmon encyclopedia - December 12th, 2016 [December 12th, 2016]
- What is Evolution - explanation and definitions - December 21st, 2016 [December 21st, 2016]
- Evolution (2001 film) - Wikipedia - January 28th, 2017 [January 28th, 2017]
- EvolutionM.net - Mitsubishi Lancer Evolution | Reviews, News ... - February 1st, 2017 [February 1st, 2017]
- YMCA evolution continues at lake - Gaston Gazette - February 7th, 2017 [February 7th, 2017]
- Ivanka Trump's Beauty Evolution, From 1998 to Today Watch - Us Weekly - February 7th, 2017 [February 7th, 2017]
- Lumpy, hairy, toe-like fossil could reveal the evolution of molluscs - The Guardian - February 7th, 2017 [February 7th, 2017]
- How Evolution Alters Biological Invasions - ScienceBlog.com (blog) - February 7th, 2017 [February 7th, 2017]
- Cultural evolution and the mutilation of women - The Economist - February 7th, 2017 [February 7th, 2017]
- Late-night hosts on the evolution of Trump: 'Dickish to dictatorish' - The Guardian - February 7th, 2017 [February 7th, 2017]
- Gold's Gym Regina rebrands to become Evolution Fitness - Regina Leader-Post - February 7th, 2017 [February 7th, 2017]
- Incremental Versus Radical Innovation: A Response to Josh Swamidass on Evolution and Cancer - Discovery Institute - February 7th, 2017 [February 7th, 2017]
- Blockchain: Investment (R)Evolution For Developing Markets - Forbes - February 7th, 2017 [February 7th, 2017]
- See the Evolution of the Famed Porsche 911 in 7 Photos - WIRED - February 7th, 2017 [February 7th, 2017]
- Exhibition charts 500 years of evolution of robots - Phys.Org - February 7th, 2017 [February 7th, 2017]
- How evolution turned ordinary plants into ravenous meat-eaters - Wired.co.uk - February 7th, 2017 [February 7th, 2017]
- Are Evolution Fresh Drinks 'Poison'? - snopes.com - February 7th, 2017 [February 7th, 2017]
- Non-Chromosomal DNA Drives Tumor Evolution - The Scientist - February 8th, 2017 [February 8th, 2017]
- Chimpanzee feet allow scientists a new grasp on human foot evolution - Phys.Org - February 8th, 2017 [February 8th, 2017]
- 'Goldilocks' genes that tell the tale of human evolution hold clues to variety of diseases - Science Daily - February 8th, 2017 [February 8th, 2017]
- Pac-Man is Coming to 'The Sandbox Evolution' Next Week - Touch Arcade - February 9th, 2017 [February 9th, 2017]
- Chimpanzee feet allow scientists a new grasp on human foot ... - Science Daily - February 9th, 2017 [February 9th, 2017]
- Bacteria sleep, then rapidly evolve, to survive antibiotic treatments - Phys.Org - February 9th, 2017 [February 9th, 2017]
- Orangutan squeaks reveal language evolution, says study - BBC ... - BBC News - February 9th, 2017 [February 9th, 2017]
- Evolution gives rhyme its reason - Aurora News Register - February 9th, 2017 [February 9th, 2017]
- Deeper origin of gill evolution suggests 'active lifestyle' link in early vertebrates - Science Daily - February 9th, 2017 [February 9th, 2017]
- From Tara Palmer-Tomkinson to Cara Delevingne: the evolution of the It girl - The Guardian - February 10th, 2017 [February 10th, 2017]
- Banned TED Talk: Rupert Sheldrake The Science Delusion - Collective Evolution - February 10th, 2017 [February 10th, 2017]
- VOTD: Watch the Evolution of Keanu Reeves' Acting Career - /FILM - February 10th, 2017 [February 10th, 2017]
- Pokmon Go Eevee evolution: How to evolve Eevee into Vaporeon, Jolteon and Flareon with new names - Eurogamer.net - February 10th, 2017 [February 10th, 2017]
- Horse evolution bucks evolutionary theory - Science News - February 10th, 2017 [February 10th, 2017]
- Samsung's Chromebook Pro highlights the category's continued evolution - TechCrunch - February 10th, 2017 [February 10th, 2017]
- Scientists solve fish evolution mystery - Phys.Org - February 10th, 2017 [February 10th, 2017]
- Wildfire evolution forces Forest Service into new thinking - The Daily Progress - February 11th, 2017 [February 11th, 2017]
- How the horse can help us answer one of evolution's biggest questions - Raw Story - February 11th, 2017 [February 11th, 2017]
- A primer on Darwin Day: Some religious groups embrace 'Theistic evolution' - LancasterOnline - February 11th, 2017 [February 11th, 2017]
- Apple: Evolution of in-car audio tech moving at 'speed of sound ... - Times of India - February 11th, 2017 [February 11th, 2017]
- Mariska Hargitay's Evolution from '80s Glam to Law & Order: Special Victims Unit - TVOvermind - February 12th, 2017 [February 12th, 2017]
- Evolution of baseball from power to speed has left SBs behind ... - Chicago Sun-Times - February 12th, 2017 [February 12th, 2017]
- More order with less judgment: An optimal theory of the evolution of cooperation - Science Daily - February 12th, 2017 [February 12th, 2017]
- J. Albert C. Uy speaks on evolution, biodiversity in bellied flycatcher population - The College Reporter - February 12th, 2017 [February 12th, 2017]
- See the Evolution of Movie Magic With Every Oscar Winner for Visual Effects in History - Gizmodo - February 12th, 2017 [February 12th, 2017]
- Numerology: Here's What Your Name Says About You - Collective Evolution - February 13th, 2017 [February 13th, 2017]
- The Evolution of Valentine's Day - Inside Science News Service - February 13th, 2017 [February 13th, 2017]
- Why evolution may be tech billionaires' biggest enemy - The Week Magazine - February 13th, 2017 [February 13th, 2017]
- Community Viewpoint: Evolution, like gravity, is much more than theory it is a fact - Kdminer - February 13th, 2017 [February 13th, 2017]
- How the horse can help us answer one of evolution's biggest questions - Phys.Org - February 13th, 2017 [February 13th, 2017]
- How evolution alters biological invasions - Science Daily - February 13th, 2017 [February 13th, 2017]
- Cockeyed squid shines light on deep sea evolution - Christian Science Monitor - February 13th, 2017 [February 13th, 2017]
- Eye Evolution: A Closer Look - Discovery Institute - February 14th, 2017 [February 14th, 2017]
- Evolution always wins: University of Idaho video game uses mutating aliens to teach science concepts - The Spokesman-Review - February 14th, 2017 [February 14th, 2017]
- Geneticists track the evolution of parenting - Phys.Org - February 14th, 2017 [February 14th, 2017]
- How this cockeyed squid shines a light on deep sea evolution - Christian Science Monitor - February 14th, 2017 [February 14th, 2017]
- 4 Possible Roadmaps For macOS and iOS Evolution - The Mac Observer (blog) - February 15th, 2017 [February 15th, 2017]
- The Evolution of the Energy Capital of the World - Texas Monthly - February 15th, 2017 [February 15th, 2017]
- Humons presents an atypical dance evolution - Detroit Metro Times - February 15th, 2017 [February 15th, 2017]
- Pokemon Go Adds 80 Generation 2 Pokemon, New Evolution Items This Week - IGN - February 15th, 2017 [February 15th, 2017]
- Fossil discovery rewrites understanding of reproductive evolution ... - Science Daily - February 15th, 2017 [February 15th, 2017]
- 'X-Men: Evolution' Is the Gateway Drug of Comic Book Shows - Geek - February 16th, 2017 [February 16th, 2017]
- A cultural catch: Evolution of wooden halibut hooks carved by native ... - Science Daily - February 16th, 2017 [February 16th, 2017]
- Bremerton's Fitness Evolution now Planet Fitness - Kitsap Sun (blog) - February 16th, 2017 [February 16th, 2017]
- Eye Evolution: The Waiting Is the Hardest Part - Discovery Institute - February 16th, 2017 [February 16th, 2017]
- Evolution Of The Yeezy: 2009-2017 - HotNewHipHop - February 16th, 2017 [February 16th, 2017]
- Prebiotic evolution: Hairpins help each other out - Science Daily - February 16th, 2017 [February 16th, 2017]
- This 'Live Birth' Fossil Could Change Humanity's Understanding Of Evolution - Daily Caller - February 16th, 2017 [February 16th, 2017]
- Mysterious Ancient Stonehenge-Like Circles Found in Amazon Rainforest - Collective Evolution - February 16th, 2017 [February 16th, 2017]
- 'Pokemon Go': How to Evolve Poliwhirl Into Politoed - Heavy.com - February 17th, 2017 [February 17th, 2017]
- 'Pokemon Go': How to Evolve Slowpoke Into Slowbro or Slowking - Heavy.com - February 17th, 2017 [February 17th, 2017]
- 'Pokemon Go': How to Evolve Gloom Into Bellossom - Heavy.com - February 17th, 2017 [February 17th, 2017]
- Pokmon Go Dragon Scale - how to evolve Seadra into Kingdra and how to get the Dragon Scale - Eurogamer.net - February 17th, 2017 [February 17th, 2017]
- Pokmon Go Eevee evolution: How to evolve Eevee into Umbreon, Espeon, Vaporeon, Jolteon and Flareon with new ... - Eurogamer.net - February 17th, 2017 [February 17th, 2017]
- University of Pittsburgh guest speaker discloses evolution findings - UTA The Shorthorn - February 17th, 2017 [February 17th, 2017]
- 'Pokemon Go' Special Items: Drop Rates for Evolution Items & Berries at Pokestops - Heavy.com - February 17th, 2017 [February 17th, 2017]
- How Vedic Philosophy Influenced Nikola Tesla's Idea of 'Free Energy' - Collective Evolution - February 18th, 2017 [February 18th, 2017]
- Migration to America took long enough for evolution to happen on the way - Ars Technica - February 18th, 2017 [February 18th, 2017]
- How To Choose Your Eevee Evolution In 'Pokmon GO:' Umbreon And Espeon Edition - Forbes - February 18th, 2017 [February 18th, 2017]
- Evolution Items - IGN - February 18th, 2017 [February 18th, 2017]
- Congo River fish evolution shaped by intense rapids: Genomic study ... - Science Daily - February 18th, 2017 [February 18th, 2017]
- Pokmon Go - How to evolve, use Special Items, when to evolve or Power Up your Pokmon - Eurogamer.net - February 18th, 2017 [February 18th, 2017]