There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning. Warren Buffett [embedded content] For the first time … researchers have gathered systematic data that allows for a comparison of wealth distributions in all countries of the world, from the bottom of the distribution to the top. The overall conclusion is that wealth hyper-concentration affects all world regions (and it has worsened during the Covid pandemic). At global level, in 2020 the poorest 50% of the world’s population owned just 2% of total private property (real estate, business and financial assets, net of debt), while the richest 10% own 76% of the total. Latin America and the Middle East have the highest levels of inequality, followed by Russia and
Topics:
Lars Pålsson Syll considers the following as important: Economics
This could be interesting, too:
Lars Pålsson Syll writes En statsbudget för Sveriges bästa
Lars Pålsson Syll writes MMT — debunking the deficit myth
Lars Pålsson Syll writes Daniel Waldenströms rappakalja om ojämlikheten
Peter Radford writes AJR, Nobel, and prompt engineering
There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.
For the first time … researchers have gathered systematic data that allows for a comparison of wealth distributions in all countries of the world, from the bottom of the distribution to the top. The overall conclusion is that wealth hyper-concentration affects all world regions (and it has worsened during the Covid pandemic). At global level, in 2020 the poorest 50% of the world’s population owned just 2% of total private property (real estate, business and financial assets, net of debt), while the richest 10% own 76% of the total.
Latin America and the Middle East have the highest levels of inequality, followed by Russia and sub-Saharan Africa, where the poorest 50% own just 1% of everything there is to own, while the richest 10% own around 80%. The situation is slightly less extreme in Europe, but there is really nothing to be proud of: the poorest 50% own 4% of the total, compared to 58% for the richest 10%.