Once in a while you come across an idea that's a "whack on the head".
In 2002, Michael Prowse published an article in the Financial Times on "Is Inequality Good for You." Though the answer seems self-evident, he raises some truly original points - and backs them up with the research to prove it.
Quoting from the article:
Having lived in more and less unequal societies (New York is almost third world in its extremes of wealth), middle class societies are far more pleasant. And it turns out this gut reaction may actually have a sensible foundation.
Prowse, citing the work of medical researchers, informs us that unequal societies make people sicker. And it isn't due to the fact that the poor have worse diets and health care and that brings the averages down in societies with large income gaps. Once a country has achieved a first world standard of living, "....our income relative to others is more significant for our health than our absolute standard of living."
It is also noteworthy that this research has gotten no attention in the business media in the US.
Which is why countries with significant disparities in standards of living from the US have longer life expectancies:
Those who would deny a link between health and inequality must first grapple with the following paradox. There is a strong relationship between income and health within countries. In any nation you will find that people on high incomes tend to live longer and have fewer chronic illnesses than people on low incomes.
Yet, if you look for differences between countries, the relationship between income and health largely disintegrates. Rich Americans, for instance, are healthier on average than poor Americans, as measured by life expectancy. But, although the US is a much richer country than, say, Greece, Americans on average have a lower life expectancy than Greeks. More income, it seems, gives you a health advantage with respect to your fellow citizens, but not with respect to people living in other countries.
Let me say in defense that I am not a Socialist. But the article raises some compelling (science-based) arguments for income re-distribution.
Think I'll fix and Drink and ponder this more...
Happy New Year to All