I love the Internet at times like this. Here’s a beautiful answer to a series of pictures that the elite has shamelessly published online. I never really expect empathy from the likes of those that control financial systems, but this way of launching a “money product” is particularly disgusting. Financial honchos have staged a nonchalant photoshoot as if they were fundraising for orphanages. The online response has been hilarious (while in the same time highlighting the sadness of the situation we’re in).
There has been a lot of talk in the past decades about income inequality and for good reason. Various factors contribute to income inequality, such as the political orientation of a country or its economic status. But at the root of unfair reward systems lies a way of thinking that associates people with the immediate economic benefit that they bring to a group. In other words: no long-term strategy.
Such reasoning made more sense in a past when a famine could threaten the survival of an entire culture. Even though we live in quite different times (many countries are approaching post-scarcity economy), our instinct hasn’t quite caught up yet. This is not entirely surprising given how fast we’ve evolved in the past centuries. Our “firmware” hasn’t had enough time to adapt. So, we’re still prone to terribly pragmatic and survivalist decision-making. Social contribution inequality is the result of this style of thinking. It is the poor rewarding of some members of society because others do not immediately see them as being profitable.
Last week, the first results of a masterpiece in investigative journalism, civic attitude and international collaboration started to show up. Lots of people owning great fortunes ran into the misfortune of having not only their hidden wealth, but also their tax-avoiding ways exposed to the world at large, thanks to a massive document leak.
The Panama Papers consist of 11.5 million confidential documents that provide detailed information about more than 214,000 offshore companies listed by the Panamanian corporate service provider Mossack Fonseca, including the identities of shareholders and directors of the companies.