The Spirit Level - Why Equality is Better for Everyone - Richard Wilkinson and Kate Pickett

This was XM's recommendation. It strikes right at the heart of an issue that XM and I have been talking about alot recently. The crux of the book is that inequality (particularly in terms of financial endowment) in a society leads to significant issues for individuals, ranging from health and social problems to softer issues such as the level of trust people share. The data is surprisingly consistent, and shows that even in countries with higher levels of economic development, where everyone is better off, the inequality between individuals at the top and bottom of the pecking order still leads to all the gamut of issues above. And this is more strongly correlated with the inequality rather than to the absolute financial wealth of the society as a whole.

At a very personal level, I do believe that the capitalist economic model has worked very well and I haven't seen anything that drives human behavior towards industrious ends and focused action as successfully and on as wide a scale. However, I must concede (to XM too) that I think our society can be even better off than today. (And yes, I don't really need a Maserati in this lifetime.)

Our current economic model is fundamentally driven by consumerism, and industries are blooming by creating greater and greater capacities for spending in people. A TED talk that I listened to this morning aptly called it: "people spending money they don't have, on things they don't need, to impress people they don't care". The crux is this. Capitalism has become wildly successful because it has insidiously creeped into our social selves. Our very social well-being, hierarchy and beliefs, have become so intertwined with our earning / spending power that it is sometimes difficult to tell the two apart. Apart from material goods to make us feel good, we are also sold "experiences" nowadays, which is an attempt at elevating consumerism to a spiritual and hence, nobler, pursuit.

I think I will have to start by rewiring my own brain first - there is too much beliefs about success, effort, anxiety about financial security, achievements, and so on, that is deeply ingrained in me that I think I have a long way to go to having a more enlightened view of society and how I should live my life.

Thanks to XM for getting me to read this book :)