1300 Folks Own 94% of Earth's Wealth

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[–]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.