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Richest 2% Own Half the World's Wealth

Posted by kdawson on from the disparity dept.

kop writes "The richest 2% of adults in the world own more than half of all household wealth, according to a new study by a United Nations research institute. Most previous studies of economic disparity have looked at income, whereas this one looks at wealth — assets minus debts. The survey is based on data for the year 2000. Many figures, especially for developing countries, have had to be estimated. Nonetheless, the authors say it is the most comprehensive study of personal wealth ever undertaken." The study itself is available from the World Institute for Development Economics Research.

13 of 1,330 comments (clear)

  1. Not just true for humans by Anonymous Coward · · Score: 5, Funny

    Look at the duck world. Scrooge McDuck had enough money that he could swim in it!

    1. Re:Not just true for humans by fatboy · · Score: 1, Funny

      WooHoo! I'm in the top 0.85%! Bite me you poor, filthy bastards!

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      --fatboy
    2. Re:Not just true for humans by eno2001 · · Score: 1, Funny

      I don't think I'd be comfortable "living like a king" among the poor. I had a recent salesperson relate a disgusting story to me which he and some of my other co-workers found to be entertaining. He spoke of how he was travelling through india in a Range Rover and accidentally hit a cow that had significant meaning to the people in this poor village. The people who loved the cow came out and wailed at the loss and it caused quite a fuss. This salesman was losing patience with the interruption of his drive. So he pulled out the equivalent of U.S. $10 called everyone's attention to it and threw it far away from the path of his vehicle. Apparently there was a mad desperate dash for the money and he just hig tailed it out of there. I found the story thoroughly disgusting.

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      -"...bad old ideas look confusingly fresh when they are packaged as technology" - Jaron Lanier (Digital Maoism on Edge.o
  2. Quoting a senator: by Anonymous Coward · · Score: 2, Funny

    All fellow members of the Roman senate hear me. Shall we continue to build palace after palace for the rich? Or shall we aspire to a more noble purpose and build decent housing for the poor? How does the senate vote?

    Senate: FUCK THE POOR!

  3. Hey!!! by Anonymous Coward · · Score: 0, Funny

    It's because of "news" like this that the terrorists will win!!!

  4. Rich People Have all the Money! by ReidMaynard · · Score: 5, Funny

    It's not an Onion story?

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    -- www.globaltics.net

    Political discussion for a new world

  5. Darwinism by Anonymous Coward · · Score: 1, Funny

    Maybe these people are just genetically superior. Models are wealthy due to their looks, athletes for their physical abilities, inventors for their ingenuity, politicians for their ability to manipulate and businessmen for their ability to facilitate trade. Course resources play a part on a macro sense.

  6. Like by styryx · · Score: 4, Funny

    Hippy: "Like, you can't OWN property, man!"

    Prof. Farnsworth: "I can. But that's because I'm not a penniless hippy!"

  7. Re:But... by Anonymous Coward · · Score: 2, Funny

    >> No matter how rich Bill Gates gets, he still consumes very little

    Steve Ballmer, on the other hand...

  8. Re:Pareto Distribution by Anonymous Coward · · Score: 2, Funny
    Paul Allen seems to be doing a fair amount of stuff, even given his considerable wealth. Shit, he's even hanging out with Laura Harring. The dude's actually living his life, unlike some rich, wealthy, and poor.

    Yes, I know Gates has his charity, but there is only so much money a person needs...

    oh please. If you had his money I very much doubt you'd be off spending most of it to slow world hunger. Personally I could go for a platinum statue of myself, but that's just me. That, or fund research of sexbots (of course, that could be considered philanthropy)

  9. At least now we know... by clickety6 · · Score: 3, Funny

    ...who bought all the PS3s!

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    ----------------------------------- My Other Sig Is Hilarious -----------------------------------
  10. Re:Pareto Distribution by Stalyn · · Score: 4, Funny

    A rising tide lifts all boats.

    Unless you are poor, black and live in New Orleans.

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    The best education consists in immunizing people against systematic attempts at education. - Paul Feyerabend
  11. ha ha by Anonymous Coward · · Score: 1, Funny

    you live in buffalo and you're talking about shitholes?