Insights Blog

What's to Stop Us from Becoming a Downton Abbey Society?

February 10, 2015

Alternet and the Huffington Post published an interview by Lynn Parramore with SCEPA economist and New School Economics Professor Emeritus Lance Taylor.

The two discussed research published as part of SCEPA's Sustainable Growth project supported by INET.

"...economist Lance Taylor and his colleagues examine income inequality using new tools and models that give us a more nuanced — and frightening —picture than we've had before. Their simulation models show how so-called reasonable modifications like modest tax increases on the wealthy and boosting low wages are not going to be enough to stem the disproportionate tide of income rushing toward the rich.

Lynn Parramore: So what’s to stop us from becoming a Downton Abbey society?

Lance Taylor: We’ve got to have a real social consensus that the way things are going is dangerous and unacceptable, and an understanding that it will take seriously progressive taxation to make a dent in the problem. But I am not optimistic about the prospects. Through various channels 10% of national income has been transferred to an über class. Without the political will, that sort of change is difficult to undo."