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Why global inequality is at an all-time high 

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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

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There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.

Warren Buffett

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%.

Thomas Piketty

Lars Pålsson Syll
Professor at Malmö University. Primary research interest - the philosophy, history and methodology of economics.

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