Financial Express: The 1% Capture Our Wealth & Power
|April 16, 2014||Posted by Staff under Editorials|
A 2014 excerpt of the Financial Express (of Bangladesh), Mar 23.
1.0pc of people engaged in rent-seeking, control politics, BEA’s public lecture told
President of Bangladesh Economic Association (BEA) Abul Barkat said that Bangladesh is caught in the middle of poverty, inequality, and disparity due to an unholy alliance of one per cent people who are engaged in rent-seeking.
“This one per cent people controls politics, power, and all state machineries and gather wealth by not creating assets but taking away from the existing amount of wealth through embezzlement, misappropriation, lobbying, and many other improper means,” he said while presenting a public lecture at Dhaka University.
The Vice-Chancellor of Dhaka University Prof Dr Arefin Siddique said equal partnership of male and female can help a lot to remove disparities from the society.
Ed. Notes: You could be anywhere in the world and one thing would be the same: the few who are first to amass an extra bit of money use that to influence legislation in their favor. Those state favors make them more wealthy still and with the extra money from the favors they win still more favorable laws and rulings, round and round, until they become a nigh untouchable elite. So what do the rest of us do? We acknowledge the common wealth and demand our fair share. Winning our fair share will kick the underpinnings out from under the, now former, ruling elite.