It's important to note that the nordic countries have roughly as much wealth inequality as the US, but they just have more taxes which reduces income inequality.
They probably would reduce wealth inequality if they could but the fact that much capital is mobile means the very wealthy can threaten to leave and basically control the government's choices about wealth inequality.
If one country was able to reduce wealth inequality significantly, the wealthy of other countries would likely pressure their governments to condemn and then impose economic sanctions on that country. Along with funding opposition politicians and media within the country.
So it would be a big task to actually reduce it without significant cooperation between governments (e.g. EU's minimum corporation tax would be a very small example).
nofluxcapacitor t1_jdo1tjk wrote
Reply to comment by Villamanin24680 in Who do you think will be the winners and losers of the coming AI revolution? by tshirtguy2000
It's important to note that the nordic countries have roughly as much wealth inequality as the US, but they just have more taxes which reduces income inequality.
They probably would reduce wealth inequality if they could but the fact that much capital is mobile means the very wealthy can threaten to leave and basically control the government's choices about wealth inequality.
If one country was able to reduce wealth inequality significantly, the wealthy of other countries would likely pressure their governments to condemn and then impose economic sanctions on that country. Along with funding opposition politicians and media within the country.
So it would be a big task to actually reduce it without significant cooperation between governments (e.g. EU's minimum corporation tax would be a very small example).