Gap between rich and poor rising faster in Canada than U.S.:Study

John Morrissy brings forth the idea of inequality created by capitalism. Between its peers, Canada’s divide between the rich and the poor is growing at the fastest rate. In essence, the rich are getting richer and the poor are getting poorer.

The main ethical issue that arises is whether society should compensate and provide for the poorer individuals. The author suggests that the higher standard of living we are accustomed to will disappear, if we do not find a better framework to distribute the wealth. It will create social tension which would eventually lead to investors taking their money elsewhere. The wants of the wealthy will never be satisfied but if this inequitable system continues the needs of the poor will not be fulfilled either.

To avoid this, society must protect all of the individuals involved. Therefore, the rich must be willing to share their wealth, not only because it is morally right, but also to protect their own way of life.  In the words of Adam Smith, “No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable.”