More good news – we live in a more equal world

Governments today can bask in the pleasure of the latest figures which show a sharp decline in the number of billionaires. Turn that round, and it means equality is rising at last.

You may not be able to make the poor rich by making the rich poor, but you can create a greater equality of misery with a really good Credit Crunch and recession.


  1. wilf proudfoot
    March 12, 2009

    reminds one of Robin Hood……must be way ahead the worst

    story we tell our kids…. OK to rob the rich as long as you give

    some to the poor …. appears to be the lesson !

  2. Waramess
    March 12, 2009

    Our monetary policies are making a very good job of making the poor even poorer, so where is all the wealth going?

  3. Bazman
    March 12, 2009

    Robbing the rich and the poor and keeping it for yourself would be a more modern fable. Is this part of the trickle up, or sparrows and dead horse effect?

  4. Cliff.
    March 12, 2009

    Isn’t that the socialist way; rather than raising people up, drag everyone down to the lowest common denominator?…..Well except for the Political elite of course!!

  5. […] brilliantly dry John Redwood observes: Governments today can bask in the pleasure of the latest figures which show a sharp […]

  6. Josh
    March 12, 2009

    That’s the first rule of socialism, make everybody equally poor. The second rule of socialism is don’t speak about the misery socialism causes. The third rule is … (dragged away by the police)

  7. Not an Economist
    March 12, 2009

    On a general point I would have thought this downturn will reverse many of the so called achievements of the Labour Govt over the last ten years. I haven’t looked in detail but with tax revenues down, unemployment up, businesses collapsing like dead flies all around us and the now real likelihood of higher inflation (following on from QE) then poverty will be on the increase. Labour can try to plough ahead with their policy agenda regardless but the pressure on Govt budgets will become enormous. I know Labour supporters take the view that they can just ratchet up taxes willy-nilly with no effect on the economy but in the real world that just ain’t so (imho) ….

  8. chris southern
    March 12, 2009

    Isn’t it just a sighn of more wealth being stored away from the UK, i know if i was one of the filthy rich, i’d be keeping as much of it away (legaly) from the current UK robber barons.

  9. politicalabinitio
    March 12, 2009

    Inequality is getting better only if those at the bottom are either maintaining their wealth or getting richer – if they’re also getting poorer then the inequality isn’t changing.

    1. alan jutson
      March 12, 2009

      But you miss the point, if the poor are only getting poorer by a small amount, and the rich are loosing out big time, then the gap is closing.

      Next Labour Headlines
      “The Wealth Gap is getting smaller, the Country is getting more equal” Labour Manifesto Policies are working.

  10. Alan Wheatley
    March 12, 2009

    Given the definition of poverty as having less than a certain percentage of average income, reducing the income of the wealthy will move some people out of poverty. They will not actually be any better off, of course.

    Popular though this definition of poverty has become, it was always a lousy definition, as the circumstances above illustrate.

  11. no one
    March 12, 2009

    more good news

    lots of space to park in the average office car park

    as so many been kicked out

    better than roaming the streets when the office car park is full

    March 13, 2009

    As we blogged earlier this week, local voter research shows this to be a matter of good cheer amongst ordinary folk.

    The relative downfall of the rich and mighty not only ‘compensates’ for their (I mean OUR) difficulties but also shows that they weren’t infinitely more wise and prudent than the rest of us.
    Amongst men, in particular, in the discussion groups that is a motivating factor in making them feel better.

    Interesting eh?

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