Democratizing personal finances

by phil on Monday Apr 21, 2003 6:28 PM
wealth distribution

Democratizing personal finances

In regards to the gap between rich and poor, Shiller states that, “Should inequality get substantially and chronically worse, it would create classes of resentful people and fundamentally change the nature of our society,” he writes. “These shocks can wreak havoc on our lives.”

At least somebody's making a practical effort to help close the rich-poor gap without just stating the obvious, that it sucks for the poor Since the rich are the ones in control, one has to appeal to their needs in order to satisfy the needs of those not in control.

Shiller's proposal includes a maelstrom of new, post-9/11, post-dot-com tailored proposals, such as livelihood change insurance. Glad to see someone's thinking different in finances.