Diminished trust in economically unequal societies may have large social effects.
When it comes to their wages, McDonald’s workers around the world are not “Loving It” – and they haven’t been shy about expressing their discontent over the past four years.
A living wage would not only have a positive effect on employee well-being, which improves productivity and reduces employee turnover; it also would increase the buying power of citizens, which is good for the economy and the company itself.
"Severe income disparity" is one of the most significant global risks identified by the World Economic Forum in 2014. But delegates spend $40,000+ to attend the Forum -- and there is the incessant buzz of helicopters ferrying delegates to Davos at $10,000 a trip. What's wrong with this picture?
"Sometimes the ideas that we are certain are true are dead wrong. An astronomer who still believes that the earth is the centre of the universe will do some terrible astronomy, likewise, a policy maker who believes that the rich are job creators and should not be taxed will do equally terrible policy."