That is 56,000 people
I think it would be interesting to see where these 56k people live.
Just 0.001% hold 3 times the wealth of poorest half of humanity, report finds
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Re: Just 0.001% hold 3 times the wealth of poorest half of humanity, report finds
#12It would be misleading to suggest that a single person with zero wealth has more wealth than 100k people’s wealth combined. But that’s what this headline and report are doing.
Re: Just 0.001% hold 3 times the wealth of poorest half of humanity, report finds
#13Re: Just 0.001% hold 3 times the wealth of poorest half of humanity, report finds
#14The report puts the threshold for being in the top 10% of income earners at €65.5K. I suspect many HN users would fall into this category.
Related: is there a way to estimate what the wealth inequality was like pre-industrial revolution? It occured to me that in an era of kings, queens, aristocrats, and nobles it might be similar to what we see today. Without concluding whether it is right or wrong, would it have been very different for the bottom 90% in terms of inequality? Is it just the ‘who’ that makes up the very top of the wealth and income charts that is different?
Re: Just 0.001% hold 3 times the wealth of poorest half of humanity, report finds
#15This is misleading. It counts debt as negative. This means a person who has zero wealth and zero debt will have more wealth than bottom 5% of people cumulatively (their wealth cancels out due to debt). It would be misleading to suggest that a single person with zero wealth has more wealth than 100k people’s wealth combined. But that’s what this headline and report are doing.
Re: Just 0.001% hold 3 times the wealth of poorest half of humanity, report finds
#16People that see (growing) wealth inequality as a problem rarely perceive themselves as part of it, but e.g. anyone complaining about the "top 1%" on this forum is pretty likely to be part of the "problem" themselves, globally speaking.
I think that for a lot of issues "people richer than us" are mostly a convenient scapegoat to shift the blame upstream, e.g. with CO2 emissions: If you're an average "western" citizen, then you are pretty likely to be in the upper percentiles of emission culpability, and pointing at celebrities and their private jets or somesuch is no better than thinly veiled whataboutism in my view.
Re: Just 0.001% hold 3 times the wealth of poorest half of humanity, report finds
#17[flagged]
Re: Just 0.001% hold 3 times the wealth of poorest half of humanity, report finds
#18This is misleading. It counts debt as negative. This means a person who has zero wealth and zero debt will have more wealth than bottom 5% of people cumulatively (their wealth cancels out due to debt). It would be misleading to suggest that a single person with zero wealth has more wealth than 100k people’s wealth combined. But that’s what this headline and report are doing.
How else to do it? Don't count debt at all and pretend that if you've borrowed money, you're rich? Calculate EV of that debt - but how and on what timeframe?
Re: Just 0.001% hold 3 times the wealth of poorest half of humanity, report finds
#19Most of their wealth is probably in companies operating globally. It seems more easy to tax profits in local markets. And increase competition…