There was a time when it was thought that the market economy could guarantee almost everyone a relative degree of affluence. This has changed since the function of free market economy has been increasingly superseded by capitalism. A bottom-up redistribution of wealth on a colossal scale has started to take place: the pyramid game. It consists of tax evasion by the rich and an ever-increasing tax burden on the least well-off which has undermined social equality. Now the first warning signals are emerging from the global markets.
- The global sins of financial capital
- The poor grow poorer, the rich get richer
- International outsourcing is causing an imbalance of wealth on a global scale.
Dr. Gero Jenner is an authority on Asia and an author of books on economics. Following an extended period working and carrying out research in Japan, he now lives in Syria, Austria.