Baba Pugwuthi
Professor Andrew Sayer has written an excellent book of investigative scholarship about the trouble with wealthy people on the world in a book called "Why We Can't Afford The Rich" and basically outlines how rich people basically conspire to keep wealth at the expense of the public masses. Sayer basically says that the wealth accumulated by the super wealthy is at the expense of the average worker as the rich can get money out of not producing and the work and sweat of others. The financial wealth is then used to manipulate speculation and invest in other areas of wealth creation the lay person is left out through investments and control of earning income distribution. he common theme of this book is that the super wealthy are rich through the unearned income from ownership and rent control of the economy. Sayer gives many examples of individuals in society , such as Mexico's Carlos Slim, and how their monopoly of industry and properties brings their wealth into obscene inequalities as he earns ore than the average 400,000 Mexican citizens. the rich can use debt leverage on the lower-classes to gainfully increase their share of wealth as sayer goes into much detail and easy explanation throughout his chapter on interest and the evil of compound interest being used to further the pains of the poor. banks are easily able to create money from nothing and then charge the average consumer interest and as many point out this is the basis of our disastrous and corrupt monetary system. the ability of the rich to use credit to further the burden on the poor and grease the economic engines of the world to work only in their favor is a system they continue in an injustice manner on the rest of the world. This is one of the best and overlooked studies in recent years on the rich and Andrew Sayer should be a bigger name in the world of inequality as he blatantly calls out the rich and their awful demand of profit accumulation for themselves is having the most dire consequences for society and is doing nothing but furthering the seeds of rebellion. The culture of legal corruption that thi wealth is used to maintain their power is sign that the rich are getting desperate as the world wakes up to their fraudulent financial abuses on people and people like Andrew sayer are wakening people up in Britain about the steps that need to be done and explained to end these practices of the upper one percent.
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