The defining battle of the 20th Century was the fight between communism and capitalism. In the end, capitalism triumphed, but in its wake, it created a small cabal of elites, and endless poverty.
Throughout the world, the top echelons of the workforce are receiving higher wages, while the rest of the workforce is being left behind.In a survey by leading labour economists, the CEO of leading companies in the US now earns more than 400 times the lowest paid workers.
In Kenya, the gap between the highest-earning worker and the lowest-earning worker is now almost the same as the United States- 400:1.
As Peruvian property rights economist Hernando De Soto notes, higher wages for workers and improved job opportunities bring more workers to the tax bracket, leading to more income, more peaceful and stable families, less crime and more prosperity for the nation in general.
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