The real general finding is that inequality, being a way of making people feel more distant from one another, stretches the social fabric, it frays the social fabric. It pulls us apart from one another, physically, experientially, and psychologically. — Paul Piff | Psychologist, University of California
There’s nothing necessarily wrong with inequality. People have unequal endowments of intelligence, and beauty, and who your parents are. Where I start to worry as a sociologist is when people accumulate dynastic wealth. Dynastic wealth means a lot of money that gets transferred down through generations. That starts to stabilize in systems of inequality across society, and that constricts the opportunities available to everybody else. — Brooke Harrington | Sociologist, Copenhagen Business School
“These are very clear elements of an artificial world for which only an abstract amount of money counts. But not the quality of life locally, among the people, in the markets, in society.” — Hans-Jürgen Jakobs | Business Journalist.
In the context of modern investor capitalism, there’s been this massive shift of power from labor to investment. It’s called financialization. Now you can get rich from being a rentier capitalist — that is not from your work, not from the sweat of your brow, as they say, but from putting your money at the right place, at the right time, in the right things. — Brooke Harrington | Sociologist, Copenhagen Business School
Q: Many people would say, here are six well-to-do people sitting at the table and all they’re trying to do is increase their wealth. For many you are an economic bloat. What would you say to that?
A: Frankly, nothing because nobody ever asks me that. I think it’s pretty cheeky!