December 07, 2006
|World Wealth Inequality Study||Economy|
A new study on the world distribution of wealth [PDF], the most comprehensive study of its kind ever undertaken, finds (as of the year 2000):
- the richest 1% of adults own 40% of global assets,
- the richest 2% own more than half, while
- the poorest 50% own barely 1% of the world's wealth.
I knew it was bad, but still.
Trickle-down economics, deregulation, tax cuts for the wealthy, "free trade" agreements, etc., have all contributed to the ever-increasing concentration of wealth into fewer and fewer hands. The lucky few love those policies — which pretty much tells you all you need to know.
Here's an interesting and compelling documentary on the IMF agreement with Jamaica and the effect it’s had on the locals. It blows the mind to see how these IMF “agreements” devastate countries. The IMF completely takes advantage of countries when they’re at their weakest, and then sucks the last bit of life out of them. Honestly, this stuff is appalling. The documentary drives the point home effectively by comparing western tourists and the Jamaicans.
Life and Debt - Globalization and Jamaica
(replace [dot] with actual periods)
Posted by: Jeff at December 8, 2006 06:50 PM