Economist Armine Yalnizyan reminds us that the present call for austerity is taking place amid a period of incredible wealth.
Speaking at a Students for Medicare Conference in Toronto March 31st, the Canadian Centre for Policy Alternative economist said this debate is taking place amid a backdrop of growing income inequality.
“We’re standing in the middle of the industrial revolution,” she said. “Global wealth is expanding exponentially. We have more access to stuff than ever before.”
Economist Armine Yalnizyan speaking at the Students for Medicare Conference March 31.
While the rich were also affected by the economic crisis of 2008, having lost on their investments, she says they have bounced back much faster than the rest of us.
There is a growing consensus among major institutions – including the Bank of Canada — that growing inequality is a major problem.
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