As those of you who hear me speak know, besides climate change I think the greatest future challenge we face is what I label “income gap economics.” Unless we can reverse the drift toward a world where 1% owns 40% or more of wealth and the bottom 60% own 7% of wealth, and where half the country is now classified as low income or poor, it is hard to imagine how the experiment with a democratic republic survives. Reading this and that today, I was led to Wendell Berry, one of my early philosophic heroes. In this article he says,
The two great aims of industrialism — replacement of people by technology and concentration of wealth into the hands of a small plutocracy — seem close to fulfillment.
Is it true?