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IPFS News Link • Economy - International

It Doesn't Trickle Down

• https://consortiumnews.com, By Kate Pickett

It is a feeling of outrage, with a strong sense of déjà-vu. From the vantage point in the United Kingdom — where inequality and social injustice are in particularly sharp focus — we're on the brink of yet another social and economic crisis. Even more so than in the rest of Europe, energy prices, and the cost of living are rocketing.

But what is happening at the top? What are our leaders doing? Why are some people, yet again, making eye-watering financial gains while others face destitution and a real fear of being cold and hungry this winter?

The image springs to mind of Nero fiddling while Rome burns — a depraved, corrupt, and wildly unpopular emperor, blithely playing music while the populace suffers and failing through inertia to provide any leadership in a crisis. On a wider canvas, it encapsulates the inadequacies of so many political leaders over recent years, from the global financial crisis to the pandemic, in the face of the climate emergency and now the spiralling cost of living.

I thought as a child the "fiddling" Nero was doing was related to the other English meaning of the word — obtaining money dishonestly, by embezzlement or corruption. I mistakenly assumed he had raided the imperial treasury and made off with his ill-gotten gold.

It turns out the youthful misconception is now the right metaphor of how business figures and investors have profited from the hardship of others. And that provokes even more moral outrage than the passive failures of hapless political leaders.