A friend once wrote that inequality was like dynamite your basement. A little is useful, to use on a farm or ranch or whatever, to blow up dams and, I don’t know. Farm stuff. Too much of it and it would not be safe to live there. I don’t know how smart it is to keep even small amounts of TNT in your house but the allegory still works. The gap between people with resources and people without cannot continue to expand indefinitely. To have a Civil Society, every human needs a sustainable lifeway. Rational policy has to recognize the lay of the green, so to speak, and develop policies that could affect measurable improvement.
Wealth inequality in North Carolina is a growing problem. The Gini coefficient, a measure of inequality, was 0.474 in 2021, which is higher than the national average of 0.467. This means that wealth is more concentrated in the hands of a few people in North Carolina than it is in the United States as a whole.
There are a number of factors that contribute to wealth inequality in North Carolina. These factors include:
- The concentration of wealth in urban areas: The wealthiest counties in North Carolina are all located in urban areas, such as Wake County, Mecklenburg County, and Guilford County. This is due to a number of factors, including the concentration of jobs and businesses in urban areas, as well as the higher cost of living in urban areas.
- The decline of manufacturing: Manufacturing was once a major source of jobs in North Carolina, but the industry has declined in recent years. This has led to job losses and a decline in wages for many workers.
- The rise of the gig economy: The gig economy is a growing trend in North Carolina, as it is in the United States as a whole. This trend has led to a decline in traditional full-time jobs, which has made it more difficult for people to build wealth.
Wealth inequality has a number of negative consequences for North Carolina. These consequences include:
- Reduced economic mobility: Wealth inequality makes it more difficult for people to move up the economic ladder. This is because people from low-income families have less access to education, healthcare, and other resources that can help them build wealth.
- Increased poverty: Wealth inequality can lead to increased poverty. This is because people who are poor have less access to resources and opportunities, which can make it difficult for them to escape poverty.
- Increased social unrest: Wealth inequality can lead to increased social unrest. This is because people who are poor are more likely to be dissatisfied with their lives, which can lead to protests and other forms of social unrest.
There are a number of things that can be done to address wealth inequality in North Carolina. These things include:
- Investing in education: Investing in education is one of the most important things that can be done to address wealth inequality. This is because education can help people from low-income families build the skills and knowledge they need to get good jobs and earn higher incomes.
- Expanding access to healthcare: Expanding access to healthcare is another important thing that can be done to address wealth inequality. This is because healthcare can help people stay healthy and productive, which can help them earn higher incomes.
- Raising the minimum wage: Raising the minimum wage is another important step that can be taken to address wealth inequality. This is because it will help people who are working low-wage jobs earn a living wage.
Addressing wealth inequality is a complex challenge, but it is one that must be addressed if North Carolina is to achieve a more just and equitable society.
