1300 Folks Own 94% of Earth's Wealth

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[–]Druullus 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (20 children)

Is it all the wealth? Is wealth liquid?

[–][deleted] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (19 children)

It doesn't have to be liquid.

Yes - estimated total wealth.

94% is a recent estimate.

More info on wealth inequality - though in 2018:

https://www.bbc.co.uk/news/business-42745853

[–]Bigs 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (16 children)

British Bullshit Corp? Hard pass.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (15 children)

Interesting that so many on Saidit will not consider news content from an MSM source, and have instead been brainwashed into not trusting anything from a source that is nonetheless trusted by the non-brainwashed portion of the public.

[–]Akali 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (5 children)

I think they are too lazy to check. BBC have push news without sources in the past so they assume it's still the case.

That being said, this time around they give information on the data from the credit swiss global wealth data book.

https://www.credit-suisse.com/about-us/en/reports-research/global-wealth-report.html

And a quick look at the data show that it include the stock market cap which is problematic because if besos and buffet start mass selling their assets, they'll crash the market and the market will react in fear and mass sell as well which will reduce the final value of their wealth.

So while the data is accurate, the analysis isn't because it assume that those rich people live in a vacuum where they can turn their assets into cash without losing value.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

Very interesting. It's also another concern we would have for supporting rampant income inequality. Companies should be required to share a small proportion of their profits with their employees (more than they do now).

[–]Druullus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

They do share, their employees receive regular wages.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

If those wages are commensurate with an increase in profits, then that is the kind of sharing I refer to.

[–]Druullus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Accurate how?

[–]Akali 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

The data is from the Global wealth report from the credit swiss global wealth data book by Anthony Shorrocks, James Davies and Rodrigo Lluberas from the london school of economics who are known economist who have publish many peer reviewed reports.

The article and the analysis it provide aren't peer reviewed, only the data they reference.

[–]Bigs 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (8 children)

The brainwashed are those that trust mainstream media.

I grew up with the BBC; I put it among the top 5 reasons I left the UK.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (7 children)

I am referring to content, not so much the MSM source. The brainwashing is in the interpretation of the content, and the encouragement to interpret that content by propaganda sites.

[–]Bigs 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (6 children)

I don't bother looking at the content when the source is so biased and anti-me.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (5 children)

anti-me?

I wouldn't take any of this personally.

All news media is biased. For example:

https://www.marketwatch.com/story/how-biased-is-your-news-source-you-probably-wont-agree-with-this-chart-2018-02-28

Understanding the content is up to you.

[–]Bigs 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (4 children)

I'm a cis-gender straight white male that believes in freedom.

The mainstream media fucking hates me.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 children)

I'm pretty sure you are in the majority, and the MSM very much speaks from the perspective of your demographic much better than to the minority demographic.

[–]Druullus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Should the 1 300 sell the means of production they manage/own/control etc? Is there someone more capable of managing it? Where would the buyers get the money to pay them? Does the 1 300 consume 94% of the goods/services, do they accrue 94% of the expenses?

In 2020 the 2,095 billionaires were supposedly worth about $8 trillion: https://www.forbes.com/billionaires/

The market capitalization of the publicly traded companies worldwide was supposedly about $70 trillion in 2018 (is this all the wealth in the world): https://data.worldbank.org/indicator/CM.MKT.LCAP.CD?end=2019&start=1975&view=chart

The global GDP was supposedly about $85 trillion in 2019: https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)#Lists

In 1995 the US federal/state governments owned about 35% of the land in the US. The US is supposedly the least communitarian country, how much does other countries governments own? https://www.nrcm.org/documents/publiclandownership.pdf

Are the "3.6bn people who make up the poorest half of the world" mostly children/the demented etc? Should they own/control/manage etc the means of production ?

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Thanks for this.