Offload Risks Onto The Bottom 90% And Immiseration Follows

In the last 50 years, a significant trend has been the transfer of financial risks from the wealthy to workers and consumers, leading to increasing economic hardship for the majority. This shift has exacerbated income inequality and diminished the standard of living for the bottom 90%. The article underscores the broader implications of this risk redistribution, suggesting it undermines economic stability and exacerbates social tensions. The crux of the issue is that while the wealthy benefit from secure investments, the less fortunate face mounting costs and losses, resulting in widespread immiseration.