Remodel capitalism to fight inequality

The growing concern around inequality made the agenda at the World Economic Forum annual meeting at Davos, though that does not signal a willingness to challenge the world’s status quo.

Neither does it equate with making capitalism a more socially responsible way of managing our affairs. Pope Francis has made consistent and challenging statements on the issue, though his arguments will probably fall on deaf ears just as most of the magnificent, empowering, and justice-based ambitions of Christianity — or any other religion — usually do.

Oxfam brought the issue to the forefront of public consciousness by pointing out that the world’s richest 85 individuals own as much — £1tn (€1.21tn) — as the poorest 3.5bn people, half of the world’s population. That comparison, weeks after it was made, still shocks. This is especially so if you imagine the divide in terms of unequal opportunity, of unequal security or health, of simple dignity or the possibility of being optimistic than something as nebulous as stocks and shares or a figure on a bank statement.