Winnie Byanyima: Inequality is Dangerous
on Wednesday, December 9, 2015Winnie Byanyima Money Quotation saying wealth inequality is bad for both governments and growth of business leaving needs of voiceless and interests of ordinary people unmet. Winnie Byanyima said:
“The message is that rising inequality is dangerous. It’s bad for growth and it’s bad for governance. We see a concentration of wealth capturing power and leaving ordinary people voiceless and their interests uncared for” — Winnie Byanyima
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In this quote, Winnie Byanyima is warning about the dangers of rising economic inequality in societies. She argues that high inequality is bad for economic growth, as it concentrates wealth in fewer hands and leaves less purchasing power for the broader population. She also says it undermines good governance, as those with great wealth can use their resources to exert disproportionate political influence and “capture power.”
This leaves ordinary citizens feeling voiceless, as their interests are no longer adequately represented in decision-making. Byanyima’s view is that inequality, if left unchecked, threatens democratic systems by concentrating economic and political power in the hands of a few elites, rather than empowering the general public.