I simply do not understand why people worry about inequality when the real problem is one of poverty (World needs inclusivity, January 10).
Imagine a rugby field where all those earning more than R40,000 a year stood in one half while all those earning less stood in the other. Under a system of reasonable economic growth we would expect more and more people to move from the "poor" half of the field to the "rich" side of the field as their salaries improve. The "rich" half gets richer while the "poor" half gets poorer.
Exactly what you want!
Over the period of a generation, the number of people living in the $1.25/day half of the field has declined from 53% of the world’s population to less than 17%. The income of the bottom 10% exceeds that of the richest 200 years ago.
This fantastic story in human wellbeing has happened because of economic growth. Our biggest problem is not inequality, but not fully grasping the importance of steady economic growth over time.