Richest 1% own half of the world's wealth | tutor2u Economics
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Richest 1% own half of the world's wealth

A Credit Suisse reportreveals the extent to which the meek seem increasingly unlikely to inherit the earth.

At the moment, the offspring of the richest 1% appear in line to inherit half of its wealth, leaving the rest of us scrabbling around for the rest. 

As the article notes:

"At the other end of the spectrum, the world’s 3.5 billion poorest adults each have assets of less than $10,000 (£7,600). Collectively these people, who account for 70% of the world’s working age population, account for just 2.7% of global wealth." 

  • Today, less than 10% of the global population owns 86% of the global wealth. 
  • Global mean wealth stands at $56,540 per adult
  • Since year 2000, the number of millionaires globally has increased 170%. 

Does it seem to you that inequality has already reached unacceptable levels? And if so, what can we do to change this? And at what cost? Plenty to ponder.

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