More People Jump on the Inequality Bandwagon

The latest dispatch on the inequality front comes from a hedge fund. The article was part of a set in the McKinsey app, so even the “elites” are recognizing the need to do something about the inequality.

Now I don’t typically regard the hedge funds or the Wall Street financial types as having a lot of empathy for regular folks since they live in a world vastly different from the rest of us. And their mindset is very different too. Think of that moment during the Great Recession when the financial world teetered on total collapse and folks were losing jobs right and left. But the bankers wanted their bonuses, even after capsizing the economy. Empathy? Um, I don’t think so.

So now we have a hedge fund talking to McKinsey about the need to rethink capitalism and the need to do something about the inequality. Maybe some of them are beginning to realize that to continue to funnel money to fewer and fewer people means that those with the money will have to duke it out amongst themselves since they will have sucked all of the money out of the economy. That sounds like a very nasty kind of living.

There’s a lot of talk; I wonder if there will be any kind of action.