Inequality continued

The economic importance of studying, analyzing and taking action in the issue of income inequality is that statistics show that the US has performed better when inequality levels have been at low levels. However, I think that as part of addressing the issue of inequality it is also important to get a little bit ahead of ourselves and look at the consequences of such growth. That is, we have to know if growing that much is sustainable. As a matter of fact that is a question that we can ask right now. Is economic growth worth the trouble? Are more choices and higher GDP levels making us better off in an aggregate picture? Unfortunately not, of course free markets will also heat up competition thus bringing several different kinds of products and services. How wasteful is competition? Is it worth to have completely free competitive markets at the expense of fundamental human needs like free health care, decent education, clean air, and sufficient water among others?

It is evident that the income inequality paradox does not have an easy solution, or maybe is so easy that no one actually pays attention to it. For instance, the income inequality problem in the US and elsewhere will not be eradicated without a popular struggle pushing for a more equal distribution of wealth. The ideas to reach an appropriate economic reform are out there. The problem lies in that many people argue that with all its flaws capitalism and the free markets is as best as it gets in terms of economic structure. Fundamental flaws in the system like the ridiculously disproportionate acquisition of wealth by a single individual, and the arbitrariness in corporate world practices are only commented on but never addressed. That is, I believe due to the decentralization of intellectual power combined with a media intoxicated mentality of the general public. As Noam Chomsky remarks, it is true that living standards have risen in the overall as a result of capitalistic policies. However, rising living standards were also material from the 1800s to the 1900s within slave societies. “Is that an argument for slavery?” –Chomsky
Is rising living standards within capitalistic nations a good argument for income inequality and ecosystem destruction?