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I recently came across an interesting piece by Ian Wright of the Open University, UK. Written in November 2016, Wright considers the cause of rising economic inequality, so evident over the last 30 years or more in most major and smaller economies. Wright dismisses the mainstream causes of rising inequality: namely, unequal distribution of profits and wages or lower taxes on the rich; or automation driving down wages relatively for those not working in ‘knowledge-based’ industries. Instead, the causes of rising inequality must be found in the very nature of the capitalist mode of production. As Wright puts it, “capitalism is a system in which one economic class systematically exploits another. And its economic exploitation — not housing, tax policies or low wages — that is the root cause of the economic inequality we see all around us.”
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