The great Gatsby Curve was devised by economists to show how social immobility rises with increasing inequality of wealth. That is, as inequality increases it becomes consolidated, more rigid and harder to change; it is increasingly hard for a new Great Gatsby to arise. Politically, this threatens the future of democracy, since it leads to a situation which the wealthy manipulate the system to incredibly advantage and establish what is, in effect, an oligarchy. Could trend seems to have been seen by professional economists a variety of years, it is only recently that politicians have come into prominence in Britain and the states who understand the danger, and prepared to try to reverse facebook is the dominant before the democratic system loses the strength of self-healing.
In this scenario, function of the billionaire businessman, Donald Trump, is known as the bid of the already wealthy to gain ever greater control of government. Try to is to lift the restraints on business and continue progress of gathering all newly generated wealth into distinctive hands. To be successful in a democracy, the wealthy must gain the support of regarding ordinary people whose interests they will not serve. They gather votes by creating alarm over immigration, exaggerating the threat of international terrorism and guaranteeing the authority to carry gun.
Extreme right-wing politicians like Donald Trump seek to continue the current trend up the Great Gatsby Curve towards increased inequality and greater intergenerational immobility. However, in the UK and the country politicians have emerged who are aware of the danger and will strive to reverse movement. These personalities, on the left of politics, are supported by large degrees of people, especially younger people, but are much less popular with the established political figures in their parties who believe their radical policies will all of them unelectable. Both Jeremy Corbyn in the UK, and Bernie Sanders in the USA, have struck a chord with the masses and seem going to prove their more orthodox colleagues inadequate.
The coming Presidential election in the usa is likely to be essential for the preservation of democracy as was the second World War. There is growing resentment at ever rising company dividends and executive salaries while average wages stagnate and governments refuse to introduce money wage. With greater numbers sinking into poverty, more and more young people are coming to realise how the opportunity as a a new Great Gatsby is denied them. To create to resolving the concern is to take action to reduce inequality by increasing taxes on the rich, preventing companies from avoiding taxation, providing free education, guaranteeing a living wage and providing comparable benefits for the sick and unemployed. By working towards these goals, Bernie Sanders can return America to its former leading position in the world economy and restore to a coming generation the American Dream.
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