By PHILIP KOTLER – Why is it that in a rich country like the U.S., poverty continues to affect 50 million citizens, about 15 percent of our citizens? At the other end, the top 0.1% of our citizens receive 40% of all income and own 40% of all our wealth. Numerous studies show that our income distribution, instead of getting more equitable, is growing more inequitable over time.
Is this an inevitable feature of capitalism? Those with capital continue to grow richer. Those without capital can only sell their labor and in a market where capital is replacing labor, the number of jobs and the median pay are both likely to get smaller.
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