Social Castes and Concentration of Wealth

 The Indian caste system is about 3000 years old and is still strong. Despite some liberation following independence in 1947 with the untouchable class being outlawed or abolished, the majority- 85% of the population remain in lower castes. The caste system affects the economy pervasively; is the development of the concentration of wealth in the United States the equivalent of developing a national caste system?

“In the third quarter of 2023, 66.6 percent of the total wealth in the United States was owned by the top 10 percent of earners. In comparison, the lowest 50 percent of earners only owned 2.6 percent of the total wealth“-quote from https://www.statista.com/statistics/203961/wealth-distribution-for-the-us/#:~:text=In%20the%20third%20quarter%20of,percent%20of%20the%20total%20wealth.

https://www.britannica.com/topic/caste-social-differentiation

Real discrimination follows economic lines. Caste systems of priests and warriors developed long ago for practical reasons, yet the value of those for protecting or advancing social development stopped long ago and instead, economic classes resembling castes became oppressive and a factor of economic retardation.

Intellectual liberation occurs when intellectuals of any social background are free to develop their interests with equal opportunity. Social and intellectual repression occurs when castes, classes and those supported by political power without intellectual merit rise to dominant intellectual culture. In a purely material culture the primary value of  positions of prestige are regarded as economic advantages and are desired for that reason by materialists.

The Biden administration has not done enough, if anything to outlaw the development of a caste system in the United States along economic lines. The increasing concentration of wealth in the United States has continued after the Obama administration strong armed congressional passage of a law to make the Bush II tax cuts permanent. Despite having control of the legislation branch of the federal government during the first two years of the Biden administration to tax increase on the most rich saw the light of day.

India is a great nation with a good future and a caste system that makes its international economic role a little suspect; that is the most rich may too easily emulate or otherwise soak up elements of a caste system that segregates society economically. In my opinion economic advantage is the primary reason for caste systems, slavery and oppression of various social classes. It is rare when individuals are economically segregated and not socially segregated too.

The U.S. Congress should pass a law or two banning caste systems or rescind most favored nation status to nations that have caste systems in order to encourage more egalitarian policies with equal economic opportunity and basic national income for all citizens as a more pragmatic application of the minimum wage ideals. Ad hoc caste systems assure that people will be poor or become poor through numerous means including forcing people out of work.