Summary: Reading Time: 2 minutesCorruption and inequality go hand in hand. I pointed this out at the beginning of this series on Economic Inequality in America. A key indicator of a society in decline and near the edge of destruction is rising levels of inequality. And a key contributor and symptom of inequality within a society is rising levels of corruption. This is true from ancient Rome to the modern day.<br> This fact alone should have Americans concerned as we are currently experiencing levels of corruption unprecedented in our history. Unfortunately, very few are alarmed. We have been numbed to what is taking shape. Perhaps one of the effects of digitizing our currency is that we no longer realize when we are being robbed. Perhaps we are too distracted to realize what is taking shape. In any event, corruption and inequality in America today is unlike ANYTHING we have ever seen or experienced.<br> <br> In 1920 a man by the name of Charles Ponzi duped his investors out of $20 million. This was in the context of massive inequality within the American economy that was soon to be corrected during the Great Depression. The phrase “ponzi scheme” originated here.<br> Less than 90 years laters Bernie Madoff dwarfed that scandal by stealing more than $65 billion from his investors. Madoff’s was not the only corruption scandal of the new 21st century. His was only the largest. In the first ten years of the new century there were several corruption scandals which signaled the alarm of the linkage between corruption and inequality. Each of these also easily overshadowed the original Ponzi scheme of 1920. Very little, if anything, was done about the root issues contributing to the growing normalization of corruption in the American system.<br> Corruption and Inequality and a Growing Disregard<br> From Tyco to Worldcom to Enron and beyond, the nature of today’s corruption scandals set off alarms only for their levels of flagrant abuse and disregard to the costs they give to American economy.<br> <br> * In the Worldcom corruption scandal there were 30,000 lost jobs. Investors lost $180 billion.<br> * In the 2001 Enron corruption scandal shareholders lost $74 billion and more than 28,000 people lost their jobs.<br> * In 2005 AIG was caught in a $3.5 billion accounting fraud. No one went to jail. Then again in 2008 they posted one of the largest losses in history with $61.7 billion for their part in the 2008 economic crisis. The company was bailed out by tax payers and then awarded its executives with $165 million in bonuses.<br> <br> Corruption and inequality go hand in hand. This is the state of affairs in America today.<br> <a href="http://feeds.feedburner.com/~r/theendofhistory/PHVq/~6/1" target="_blank" rel="noopener"></a><br> <a href="https://feedburner.google.com/fb/a/headlineanimator/install?id=nb64uri41haerm5fvtnnavfgjo&w=1" target="_blank" rel="noopener">↑ Grab this Headline Animator</a><br> <br> This is part of my <a href="https://wp.me/p2iDfo-1su">Complete Guide to Understanding Inequality in America</a>. Check it out for more podcast episodes, infographics and articles and on this topic. Check out all of my<a href="http://www.theendofhistory.net/essential-guides-to-gain-a-better-understanding-of-the-world/"> expert topic guides</a> on other topics as well. <br>
