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As we are social creatures, wealth is very much relative. I often hear the argument that the poorest now are better off than they were some time ago. In most absolute terms, that is true. However, people don't experience life in those terms. People care about the social trajectory of their lives, and that of their children. We are not only experiencing an increase in wealth disparity, but many are losing wealth. Losing wealth in the face of growing disparity is a recipe for disaster.