INSUBCONTINENT EXCLUSIVE:
created destructive and self-reinforcing gaps in education, social mobility, assets and income -- and the result could be another
revolution.
Writing in a new essay, the Bridgewater Associates co-chairman points to statistics showing the bottom 60 per cent of
income-earners in the US keep falling further behind the top 40 per cent.
One example: Those in the upper group have on average 10 times
more wealth than the rest, up from six times in 1980
Another: Health among the poor is declining overall and American men earning the least probably will die 10 years earlier than those making
the most.
While Dalio, 69, previously has focused on inequality and warned about the dangers of populism, his 18-page treatise goes into
especially when accompanied by disparity in values, leads to increasing conflict and, in the government, that manifests itself in the form
data from sources including the US Census Bureau, the World Economic Forum and Gallup Inc., he paints a picture of capitalism in
crisis:
Wages for most Americans have been stagnant for decades, those who grow up in the middle class increasingly earn less than their
parents and the income gap between the richest and poorest is as wide as ever
the economic system; more accountability, presumably for elected officials; minimum standards for health care and education; some
redistributive taxes on the wealthy; and more coordination of monetary and fiscal policy to stimulate growth.
One question is how many
people on the political left or right are open to policy prescriptions from one of the wealthiest Americans
