Mass Impoverishment (noun)
The process in which even as the economy continues to grow richer, many people find themselves getting poorer year after year.
Examples:
1. Mass impoverishment means that we are looking at the first generation in living memory that expects to be poorer than its parents.
2. Many countries suffer from mass impoverishment: the US since 2000 and the UK since 2010.
99% is one of the FT’s Best Books of 2019
If the economy is doing so well, how can most people not be doing well? If the pie is growing, why aren’t we all getting bigger slices? If we are so well-off, why is our children’s generation set to be worse-off than its predecessors?
“If you are concerned about your future but would never dream of reading a book about the economy… you should read this one!”
– Hugh Pym, BBC Health Editor and former Chief Economics Correspondent
The 99% Organisation is an inclusive grass-roots movement, inspired by the Occupy movement, of people who want to end mass impoverishment using peaceful means.
Its members come from all parts of society; they are people like you who are determined to help. Whatever your age, gender, race or party affiliation, we want you. Whether you are a beggar, a barber, a banker or a billionaire, we want you. If you want to help end mass impoverishment, we want you.
The 99% Organisation aims to make mass impoverishment a key issue for Government, and to drive serious policy change. We want to build a world in which by 2050, everyone is at least 50% better-off than today.
This is a companion article to Debt Hysteria. If you have not already read that article, you may wish to do so before reading this one. Governments around the world have increased their spending in the wake of the coronavirus. Their tax revenues have also declined sharply. As a result their borrowing has gone up […]
Tackling the coronavirus has caused many countries, including the UK, to institute a lockdown. That lockdown has had a profound effect on the economy and as a result the UK government has both spent more and received less in taxation than it had expected. Of course, this has resulted in a significant increase in government […]
Below is a transcript of the presentation Mark E Thomas gave on Wednesday, 20 May 2020. There is also a video recording of the event in three parts. You can view the First part of the presentation here. You can view the Second part of the presentation here. You can view the Third part of […]