this post was submitted on 03 Mar 2024
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Where's the 94% from? That seems really high.
In America alone, the top .1% capture over 90% of all newly generated wealth.
It's just math over time until the concentration of wealth gets even denser.
For reference, you need a net wealth of 25M to be in the top 0.1% in the US.
https://escalon.services/blog/what-does-it-take-to-reach-the-top-0-1-income-earners/
Could you source that? What timeframe are you taking about for newly generated wealth? During covid where all the stock prices were soaring?
There was a high-profile political campaign that showed these studies all through 2016.
I dont believe there is a good faith discussion to be had on the topic.
The claim in the meme would still be wrong though. I agree the wealth gap is a huge problem, but we need to state it accurately to have meaningful conversation. I'd love to site that statistic you shared in conversations elsewhere, but I shouldn't without a source to make sure I don't misinterpret it. I'll try and dig for it later today.
The claim in the meme would be a mathematical eventuality based on what I presented.
You are jumping from point to point wildly while stating factually incorrect information.
Math isn't an opinion, so you can't just disagree with it like that.
If you actually cared about the stats I cited, you would already know the movement who echoes this point loudly with studies and data to back it up. The reality is you are looking for an easy dismissal.
Not to mention, pendants who debate the pieces of a meme while admitting the sentiment is true are obviously not working to be a part of the solution. Of course, you think the issue to focus on is fine-tuning our statistics, not the massive wealth disparity that is eating our planet alive.
I've never heard that claim before. I wasn't online much in 2016. I was in highschool.
The claim in the meme was 1300 people own 94% of earths wealth. The staging implied that referred to currently. That is false, right? I think accuracy is important.
It didn't require you to be online on 2016.
You could simply Google the stat and see who pops up to read more.
You're full of shit.
A Google search is saying it's 67% of new wealth since 2020 captured by the top 1%, not 95% of new wealth captured by the top 0.1%. That's an orders of magnitude difference. Please help me understand what you were talking about.
https://www.oxfam.org/en/press-releases/richest-1-bag-nearly-twice-much-wealth-rest-world-put-together-over-past-two-years
The actual data above shows that the rich were able to massively capitalize on covid while everyone else was suffering. This indicates that crises are where the wealth gap explodes, which is really scary for what it means for the incentives for rich people. You wouldn't get that insight with your exaggerated figure above.
Because you are providing bad data and not engaging the provided topic.
I referenced an American stat from 2016 and you falsely leverage worldwide data from 2020 disproves it.
Imagine that the dude here in bad faith continues bullshiting. I'm not going to respond to this bullshit further.
I googled it like you suggested, that's what I came up with. I'd be happy to look at your data if you could link it.
It’s disputed - reddit source from 3yr ago. (LibReddit mirror on SafeReddit dot com)
Thanks. I have no idea how they came up with that number originally, seems like the calculations are several orders of magnitude smaller.
Direct from someone's anus
Yeah, at least 10 years ago the top 1.6k at least publicly owned 6.4T, making it 1.5% of 454T world wide net wealth.
https://en.m.wikipedia.org/wiki/The_World%27s_Billionaires https://www.visualcapitalist.com/global-wealth-distribution/