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Wednesday, January 22, 2014

Wealth Disparity

From Bloomberg:
Oxfam International has released a new report, Working for the Few, documenting yawning global wealth disparities. Other findings:

• The world’s richest 1 percent control almost 50 percent of global wealth.
• In 24 out of 26 countries studied, the richest 1 percent has increased their share of national wealth since 1980.
• Only three in 10 people live in countries where economic inequality has not increased over the past three decades.
• In the U.S., 95 percent of post-financial-crash wealth generated (i.e., since 2009) went into the bank accounts of the richest 1 percent.
• Nine in 10 people in the U.S. control less wealth in real terms than they did before the financial crash.
Socialism at work.

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