85 of the richest in the world have the same wealth as of half of the world’s population, or 3.5 billion people. This only shows that the rich have not only recovered but have blossomed after the Global Financial Crisis.
The wealth of 1% of the richest in the world is worth $110 trillion US dollars or 65 times the wealth spread out to the bottom half of the world’s population. In the United States alone, the 1% of the wealthiest posted a 95% post-GFC growth.
Economists are not surprised with the results. Although the disparity has been highlighted, this is more than just a simple problem of wealth distribution, as the opportunities to grow, such as bond-buying programs – a major driver of financial inequality, are only available for the rich.
Read more about this on the Sydney Morning Herald website.
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