Why do the richest 10% own 85% of the worlds wealth?

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I wonder if everyone here moaning about 'evil capitalists' realises that they themselves are part of this richest 10%. Yes, if you are living in England, then YOU are part of the 10%.

Reply 101

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Original post by Tefhel

I wonder if everyone here moaning about 'evil capitalists' realises that they themselves are part of this richest 10%. Yes, if you are living in England, then YOU are part of the 10%.

Exactly. Our quality of life is provided by the fact we are at the top of the pyramid. Even for your run of the mill 12k a year admin worker there are a hoard of Indians and Chinese working day and night so they can buy their ipods and TVs. Never the less they still feel hard done by because someone else has more ipods and bigger TVs than them.

Reply 102

Billydodger

Original post by morris743

This post rules. Denial is the key word in our 'society'.

Thanks. I think many in this thread feel disadvantaged by capitalism. Which is ironic, since it is only really through the miracle of British capitalism and exploitation of those truly unfortunate that they are able to spout their nonsense. Born into most other countries and they'd be lying in their own filth right now.

Possibly you guys are expecting Bill Gates to roll up and give you an iphone/couple of grand to make things fairer?

God, if you win the lottery you hardly complain how much you get and how people you don't know didn't win anything.

At least give those actually suffering the decency of acknowledging when you've got it pretty damn good.

Reply 103

WelshBluebird

Original post by Elipsis

So I guess as long as you have the genetics and work ethic you can make it.

And the huge amount of luck, which you have obviously had.

Reply 104

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Original post by WelshBluebird

And the huge amount of luck, which you have obviously had.

I disagree. Is a doctor lucky? No. He is intelligent and works hard, and takes his rightful place in the top 1% pay bracket. I just keep my eyes open to opportunity and seize the chance wherever I can. Had I not been running this business or another business then i'd just be down in London working in a graduate job in the top 2% pay bracket.

Reply 105

WJM

The accumulation of 85 % of the worlds wealth into the hands of 10 % of the population is human nature,wanting to have the best quality of life as possible is standard .Everyone, even the super rich want to become richer ,people will never stop wanting to be richer no matter how well off they are as bigger and better is always possible. The great wealth of the few is created by the virtual slavery and the impoverishment of the masses. It is no simple coincidence that as the masses get poorer, the rich get richer and richer. i think a more mind boggling stat is that the bottom half of the worlds population own only 1% of global wealth !

Reply 106

WelshBluebird

Original post by Elipsis

It depends on the circumstances doesn't it.
Of course it is partly luck.
Do you really think that, if you had been born into an abusive family, taken into care, had parents die etc etc etc (not my own life, but this stuff DOES happen) you would still be in the situation you are in now? Of course you would not be.

As for the doctor, again it depends really. Its an awful lot easier to get into any profession if your parents (or a close friend etc) are in it.

Reply 107

Advanced Subsidiary

Original post by .Ali.

This. Communism brings everyone down to make them 'equal', instead of pushing the exceptional to achieve their potential.

and this.

I've been saying for a long time that people in this country just have this scarce mentality where they think that you can't achieve great wealth and success unless you're given the key to some magical gold gate of some sort.

If people really want to progress, then they would do so without looking for a syllabus that will show them how to.

How many children or adults do we see actually taking their education and abilities to the next level. When studying why to people limit themselves to how much the boards expect them to know? If people just thrived then they wouldn't have many problems.

Also - not talking about you but it seems a lot of people in this country seems to think that having an abundance of money is a bad thing, and that if your parents worked hard for their money to provide a better life for themselves and you then it is also a bad thing. I don't understand.

(edited 13 years ago)

Reply 108

chrislpp

Well think of it this way then.

Why do the smartest 10% come up with 85% of the worlds scientific theories.

Reply 109

34253

Original post by WelshBluebird

I know that I have been blessed with a stable and supportive family, and that has made things a lot easier. But my perseverance doesn't come from them. They are more than happy to go and do their 40 hours and live their nice stable happy life. I am putting my neck on the line based on my own abilities and I am reaping the rewards accordingly. People have gone from living with alcoholic fathers, missing mothers, living in a shed, having to go to community college paid for by working every day in a mine, to president of the United States of America. Other people have been born into families who have sent them to 70k a year Swiss boarding schools and ended up squandering their inheritance, and living on the streets addicted to smack.

Reply 110

morris743

Original post by Elipsis

Man's got points!

Reply 111

WelshBluebird

Original post by Elipsis

There has to be an element of luck to it though.
Because being hard working, determined and ambition is never enough on its own. If it was, then a lot more people would rise to the top.

Reply 112

chrislpp

Original post by WelshBluebird

There has to be an element of luck to it though.
Because being hard working, determined and ambition is never enough on its own. If it was, then a lot more people would rise to the top.

Of course there is.

Right place right time.

Capitalism is evil.

Original post by WelshBluebird

There has to be an element of luck to it though.
Because being hard working, determined and ambition is never enough on its own. If it was, then a lot more people would rise to the top.

I said there is an element of luck. Not a massive amount of luck as you implied. For the absolute top of the pyramid, the billionaires, there is a lot of luck involved and I agree with that. But as the poster above said that is about time and place. Take the Russian Oligarchs as an example; they were there to exploit the transition from socialism to capitalism. But, having studied their track records prior to these events heavily during my degree, I feel I am well placed to say they were rather magnificent and well off individuals prior to the collapse as well.

Reply 115

darknessbehold

Original post by Elipsis

I run a limited private company. Suffice it to say, when I am rich enough I won't be on the rich list because i'll be in Zurich. To be fair though, the last quarter has been very bad for me and i'm having to rebuild because my business partner lost 200k on a bad deal.

I take my words back. I am a dirty little capitalist in heart :devil:

Teach me the ways of the business, master.

Reply 116

Broderss

Because life is a competition and we're on top.

Reply 117

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For those of you who are interested, here is a picture of where Abraham Lincoln, one of the greatest US presidents ever lived as a child:

His mother died when he was 9. His eldest sister and carer died a little later whilst giving birth. His younger brother died in infancy. From these extremely poor and humble beginnings Lincoln had 18 months of schooling, and spent the rest of his time teaching himself and reading avidly.

Reply 118

username388799

I hate how much the phrase "hard work" is repeated. In a free society (obviously almost all parts of the world right now are so far from being free that I don't believe this concept applies to the contemporary world), those who achieve a lot are going to work hard. But that's not a distinctive feature of success. Success requires only one thing: productivity. Michael Jordan definitely worked hard. But so did millions of people who worked 16 hrs a day (7 days a week) as farmers. They however earned **** all. Why? cos Jordan was productive. He filled stadiums - people liked watching him play basketball. They were prepared to work a given amount of hours to earn y amount of money and spend it on Jordan. And that y amount was pretty high. On the other hand, the goods/services the farmers produced were valued at z by virtually anyone with whom they could trade. It so happens that that z was x100 lower than that y Jordan was able to produce and receive in return. Does that mean the farmers weren't hard workers? nope. It means hard work has very little to do with wealth.

So I don't particularly like people calling those who aren't rich "lazy" and those who are rich "hard workers". Not even in a free society would that be true, let alone in ours.

Reply 119

.Ali.

Original post by Advanced Subsidiary

I totally agree! Everyone has the opportunities, people in this country don't seem to realise that even the poorest of us are in the top 10%.

And the last bit, that always happens to me. I get people (on here but occasionally in real life too) saying stuff like "Oh it's alright for you, your parents are reasonably wealthy..." as if it's a criticism. Sorry for having parents who wanted to make something of themselves. :confused: