Top 1% Global Income - $32,500/year Top 1% Global Wealth - $770,000 assets via https://www.investopedia.com/articles/personal-finance/05061...
2,200 billionaires if this is to be believed
http://time.com/money/4746795/richest-people-in-the-world/
Richest 1% on target to own two-thirds of all wealth by 2030
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Re: Richest 1% on target to own two-thirds of all wealth by 2030
#22Top 1% Global Income - $32,500/year Top 1% Global Wealth - $770,000 assets via https://www.investopedia.com/articles/personal-finance/05061...
The wealth seems like a much more accurate of the top 1%, especially with the amount of personal debt people have.
Re: Richest 1% on target to own two-thirds of all wealth by 2030
#23USA wants to be #1 at the GINI index and coefficient, we are challenging Brazil, Mexico, Turkey, Chile, African countries and more for the top spot! USA! USA! [1]
[1] https://en.wikipedia.org/wiki/List_of_countries_by_income_eq...
Re: Richest 1% on target to own two-thirds of all wealth by 2030
#24Until the other 99% switch to a new blockchain where ownership is distributed differently.
Re: Richest 1% on target to own two-thirds of all wealth by 2030
#25Earlier quoted context omitted.
If you are reading this site in a Western country you are almost certainly in the global 1%. Household income of $30k if I remember correctly.
No. The world's population is 7 billion so 1% is 70 million. That's less than the population of Germany.
You're confusing 1% of population with top 1% of wealth
Re: Richest 1% on target to own two-thirds of all wealth by 2030
#26Top 1% worldwide is not a great statistic. In many US cities that is just above poverty due to CoL at ~32k.
Is there a better one instead? Or is it useless to measure global inequality and weatlh accumulation? Is there a local/national/global threshold that would make you concerned?
Re: Richest 1% on target to own two-thirds of all wealth by 2030
#27Communism went away. It's not that communism was better. It's that it was competition. There was, for half a century, a competitive threat - do better than the USSR, or face a revolution. That threat was taken quite seriously in the US for decades. Industrialists (the US economy was mostly manufacturing back then) were careful not to get too greedy or power-hungry. They feared expropriation. Britain nationalized many…
We’re at the point now where labels such as “capitalist” and “communist” is meaningless. China is a purported communist country but is minting more billionaires per year than any other country.
I disagree that labels are meaningless. Capitalism is well understood to mean private ownership of the means of production. China is doing a lot of different things and most people understand that.
Re: Richest 1% on target to own two-thirds of all wealth by 2030
#28two-thirds of all wealth? Not if cryptocurrency holders have anything to say about it!
Re: Richest 1% on target to own two-thirds of all wealth by 2030
#29Communism went away. It's not that communism was better. It's that it was competition. There was, for half a century, a competitive threat - do better than the USSR, or face a revolution. That threat was taken quite seriously in the US for decades. Industrialists (the US economy was mostly manufacturing back then) were careful not to get too greedy or power-hungry. They feared expropriation. Britain nationalized many…
We’re at the point now where labels such as “capitalist” and “communist” is meaningless. China is a purported communist country but is minting more billionaires per year than any other country.
And a capitalist society wouldn’t privatize profits but socialize risk.
Re: Richest 1% on target to own two-thirds of all wealth by 2030
#30Earlier quoted context omitted.
No. The world's population is 7 billion so 1% is 70 million. That's less than the population of Germany.
depends if the measurement is income or wealth. Income is like $32k, wealth is much higher.
That doesn't really matter. The original claim categorically can't be true given that the population of all "western countries" is much, much larger than 1% of the total population.