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The extraordinary level of agreement on the need to tackle inequality should prompt suspicion. For centuries there has been argument and struggle over economic inequality but almost suddenly, it seems, there is agreement. The deceit is in the proportion, 99:1.

“We are the 99%!” is a heady rallying cry and there are countless on-line memes emphasising the ludicrous wealth of the top 1%. The problem is that the overwhelming majority of people who would be considered rich by any standard are not in the 1%. They are hidden among the 99% and very likely aware that confining attention to the 1% is their best chance of retaining wealth and privilege.

In other words, the choice of 99:1 rather than 90:10 or 80:20 is about more than slogans. It is the most conservative position possible at this time.

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