Rampant inequality could be devastating social consequences in the next 50 years if current economic policies remain in place, according to a new book by a team of economists and scientists.
On the one hand, social divisions will make it increasingly difficult to deal with urgent crises like the present climate change, according to the authors of “Earth for All: A Survival Guide for Humanity.” The book is the result of a two-year research project that used computer modeling system dynamics to predict outcomes if current policies remain unchanged.
Social cohesion and cooperation within and between societies are essential to addressing the great challenges of our time, the authors argue. Already, rising inequality is causing social tensions and declining trust, and this could lead to “regional collapse” if left unchecked, especially when combined with climate disruptions, they warn.
“Income inequality will increase social tensions, and the widening gap between rich and poor creates divisions and contributes to polarization,” co-author Owen Gaffney told CBS MoneyWatch. “We all need to come together around these challenges, and that will be quite difficult in a highly unequal society.”
If current policies remain the same, global temperatures will rise 4.5 degrees Fahrenheit by 2100, above the Paris Agreement target, and about two billion people will live in areas that are in the habitability limit. Humanitarian crises, including regional societal collapse and food insecurity, would be more likely than today, the authors predict.
A more equitable distribution of wealth, on the other hand, would lead to greater social cohesion and more stable societies.
“Huge power differentials”
“In democratic societies, a key pillar is that everyone is represented, but in very unequal societies you end up with huge power differentials between the very rich and everyone else and that distorts the connections. It creates the perception that political power is in the service of the economic powers,” Gaffney added.
In other words, inequality leads to polarization, which makes it harder to address larger social issues.
The book’s authors present remedies that include strengthening unions and establishing a “Citizens’ Fund” backed by carbon taxes. The fund would pay a universal basic dividend to redistribute wealth and reduce pollution.
Other policy recommendations include rich countries canceling all debt with low-income countries; more educational opportunities for girls and women; and healthier diets, such as grass-fed cattle and new proteins that do not contribute to climate change.
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