January 21, 2014
The World’s 85 Richest People Are As Wealthy as the Poorest 3 Billion

The report that everybody’s talking about this morning is Oxfam’s opus on global inequality, which leads with an eye-popping statistic: The richest 85 people own more wealth than the bottom half of the world’s population.
Yes, that equation works out to: 85 > 3,000,000,000.
Before we dig into the document, a programming note about wealth inequality. Wealth isn’t income. Salary is income. But investments—stocks, houses, or equity in a business—build wealth. Wealth comes from the money you don’t immediately spend. Since poor people spend more of their income immediately, and rich people save/invest more of their income immediately, it’s predictable that wealth inequality be much worse than income inequality.
Read more. [Image: Reuters]

The World’s 85 Richest People Are As Wealthy as the Poorest 3 Billion

The report that everybody’s talking about this morning is Oxfam’s opus on global inequality, which leads with an eye-popping statistic: The richest 85 people own more wealth than the bottom half of the world’s population.

Yes, that equation works out to: 85 > 3,000,000,000.

Before we dig into the document, a programming note about wealth inequality. Wealth isn’t income. Salary is income. But investments—stocks, houses, or equity in a business—build wealth. Wealth comes from the money you don’t immediately spend. Since poor people spend more of their income immediately, and rich people save/invest more of their income immediately, it’s predictable that wealth inequality be much worse than income inequality.

Read more. [Image: Reuters]

  1. heyimaghost reblogged this from hate-baguettes-hate
  2. hate-baguettes-hate reblogged this from theatlantic
  3. neepolonius reblogged this from pilotjbug
  4. kittiesandjesus reblogged this from pilotjbug
  5. pilotjbug reblogged this from poppunkvampire
  6. lambdalass16 reblogged this from geekydorknyc
  7. geekydorknyc reblogged this from geejayeff
  8. painfuldestiny reblogged this from geejayeff
  9. ajhanderson reblogged this from geejayeff
  10. shivz33 reblogged this from blackstaraura
  11. aggressively-sarcastic reblogged this from geejayeff
  12. choclit98 reblogged this from geejayeff
  13. geejayeff reblogged this from okay-you-win
  14. blackstaraura reblogged this from okay-you-win
  15. okay-you-win reblogged this from scandal-whipped
  16. mistressj reblogged this from scandal-whipped
  17. mega-daydreamer00 reblogged this from scandal-whipped
  18. scandal-whipped reblogged this from babycakesbriauna
  19. enterpriseagainstilliteracy reblogged this from zivadinozzos
  20. global-minimum-wage reblogged this from theatlantic
  21. willyoufallwithme reblogged this from zivadinozzos
  22. cranberrydeception reblogged this from zivadinozzos
  23. metallicminerva reblogged this from broadlybrazen
  24. unknownpressures reblogged this from poppunkvampire
  25. ilelefant reblogged this from theatlantic
  26. warpuppy3 reblogged this from dragonsatmidnight and added:
    I should be throwing more cash into savings
  27. dragonsatmidnight reblogged this from wheelchairsex
  28. she-who-shines reblogged this from poppunkvampire
  29. hermosx reblogged this from poppunkvampire
  30. wheelchairsex reblogged this from poppunkvampire
  31. whattheworldisreallylike reblogged this from insertwittyremarkhere
  32. vysov reblogged this from poppunkvampire
  33. poppunkvampire reblogged this from insertwittyremarkhere and added:
    I’m so mad about this that I sat for several seconds in silence hating everything before I could reblog
  34. insertwittyremarkhere reblogged this from broadlybrazen
  35. broadlybrazen reblogged this from witchsistah