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At the same time income inequality is rising more or less everywhere [1] which is bad in several ways. [2] Those with capital are capturing more and more of the

At the same time income inequality is rising more or less everywhere [1] which is bad in several ways. [2] Those with capital are capturing more and more of the wealth, and we need to make sure that the growth in prosperity benefits all. [1] https://inequality.org/facts/global-inequality/ https://inequality.org/facts/global-inequality/ [2] https://en.m.wikipedia.org/wiki/Effects_of_economic_inequality https://en.m.wikipedia.org/wiki/Effects_of_economic_inequali...

icebraining 7y ago
The numbers in [1] come from Oxfam, which gets them from a report by Credit Suisse. Here's what that report says: Globally, the share of the top 1% has been rising since 2007 and is now close to the level in the year 2000 (45% versus 47%). But the share of the top 5% has shown little change, staying steady at 70–71%, and inequality lower down the distribution has declined. The share of the bottom 90% has risen from 11% in the year 2000 to 18% in mid-2019 according to our estimates. So, essentially the top 1% is richer at the expense of the rest of the top 5%, not of everyone else. Billionaires eating millionaires, so to speak, not the poor. https://www.credit-suisse.com/about-us/en/reports-research/global-wealth-report.html https://www.credit-suisse.com/about-us/en/reports-research/g...