Tuesday, December 05, 2006

Richest 2% own 'half the wealth' - World Institute of Development Economics Research

David Seaton's News Links
The classic Weegee photo is from the 1930s, but the news item is today's. Plus ca change, plus c'est la meme chose. Jesus wept. DS
Abstract from BBC News: The richest 2% of adults in the world own more than half of all household wealth, according to a new study by a United Nations research institute. The report, from the World Institute of Development Economics Research at the UN University, says that the poorer half of the world's population own barely 1% of global wealth. There have of course been many studies of worldwide inequality. But what is new about this report, the authors say, is its coverage. It deals with all countries in the world - either actual data or estimates based on statistical analysis - and it deals with wealth, where most previous research has looked at income. What they mean by wealth in this study is what people own, less what they owe - their debts. The assets include land, buildings, animals and financial assets. READ IT ALL

No comments: