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Half of global wealth held by 1% of the population

http://www.theguardian.com/business/2015/jan/19/global-wealth-oxfam-inequality-davos-economic-summit-switzerland

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Hmm ... yeah good point, except that to be in the 1% your salary has to be around $34,000 ... so just beware of who you're actually pointing that finger at when you refer to the tiny few people who could put a stop to world hunger if they weren't so greedy and selfish.
(edited 9 years ago)
the most recent number I can find (in about a minutes search) says that you neaded a yearly income of around 25k in 2012, to be in the top 1% of earners in the world..

That will have gone up since then, but still.. 'a tiny few people' does not feel so tiny when its 70 million, and a good proportion of the UK population..

So yes, I was going to feel annoyed about this - but I cant really.. as I, and most of my family are in or around the 1%

Am I greedy and selfish? probably a little. but really it has to be broken down on a societal level.. the top 1% in the UK, is a much better representative of the people who could make a difference if they were not so greedy + selfish, rather then the top 1% of the whole world
I bet most of the people complaining about this are themselves in the 1%.
Original post by fallen_acorns
the most recent number I can find (in about a minutes search) says that you neaded a yearly income of around 25k in 2012, to be in the top 1% of earners in the world..

That will have gone up since then, but still.. 'a tiny few people' does not feel so tiny when its 70 million, and a good proportion of the UK population..

So yes, I was going to feel annoyed about this - but I cant really.. as I, and most of my family are in or around the 1%

Am I greedy and selfish? probably a little. but really it has to be broken down on a societal level.. the top 1% in the UK, is a much better representative of the people who could make a difference if they were not so greedy + selfish, rather then the top 1% of the whole world

That seems way too small. Only 70 million people worldwide earn above 25k?

http://www.usfunds.com/investor-library/frank-talk/what-does-it-take-to-be-in-the-top-1-percent-not-as-much-as-you-think/#.VL0lTS4sqqE

Ah, I thought that was rubbish.

To be considered in the top 1 percent, household income is at least $521,411.
(edited 9 years ago)
Original post by perfectsymbology
That seems way too small. Only 70 million people worldwide earn above 25k?

http://www.usfunds.com/investor-library/frank-talk/what-does-it-take-to-be-in-the-top-1-percent-not-as-much-as-you-think/#.VL0lTS4sqqE

Ah, I thought that was rubbish.


the $500,000 figure is refering to how much you need to be in the top 1% of americans, not globally..
Reply 6
Avatar for Rakas21
Rakas21
21
Poor countries often have themselves to blame. Look at the number of countries who went soviet after the war while the west streaked ahead.

I aspire to be part of this 1% and stay there.
Original post by fallen_acorns
the most recent number I can find (in about a minutes search) says that you neaded a yearly income of around 25k in 2012, to be in the top 1% of earners in the world..

That will have gone up since then, but still.. 'a tiny few people' does not feel so tiny when its 70 million, and a good proportion of the UK population..

So yes, I was going to feel annoyed about this - but I cant really.. as I, and most of my family are in or around the 1%

Am I greedy and selfish? probably a little. but really it has to be broken down on a societal level.. the top 1% in the UK, is a much better representative of the people who could make a difference if they were not so greedy + selfish, rather then the top 1% of the whole world



Lovely intelligent response.
Reply 8
Avatar for miser
miser
20
Just wait until they own the androids that'll displace almost the entire human workforce.
After more research it seems that it is the world's richest 85 people that have the same amount as the poorest half of the world http://www.forbes.com/sites/laurashin/2014/01/23/the-85-richest-people-in-the-world-have-as-much-wealth-as-the-3-5-billion-poorest/

These were really the people I was referring to who could make a real difference in the world- it is pretty unlikely that I was having a go at people earning 25k :s-smilie:
Original post by Queen Cersei
http://www.theguardian.com/business/2015/jan/19/global-wealth-oxfam-inequality-davos-economic-summit-switzerland

I know that this stat comes out a lot but this is just ridiculous. It's crazy to think that a tiny few people could probably put a stop to world hunger if they weren't so greedy and selfish.


It is crazy - to think these people are greedy and selfish. The income needed to be in the top 1% is so low in UK terms that huge numbers of middle class people, including fairly recent graduates, are in it.
Original post by Queen Cersei
After more research it seems that it is the world's richest 85 people that have the same amount as the poorest half of the world http://www.forbes.com/sites/laurashin/2014/01/23/the-85-richest-people-in-the-world-have-as-much-wealth-as-the-3-5-billion-poorest/

These were really the people I was referring to who could make a real difference in the world- it is pretty unlikely that I was having a go at people earning 25k :s-smilie:


Well, no. Your thread title tells us exactly who you meant - the top 1% in the world. Middle class UK residents. You should think things through a bit more, and know something about the subject, before posting nonsense.
Original post by perfectsymbology
That seems way too small. Only 70 million people worldwide earn above 25k?

http://www.usfunds.com/investor-library/frank-talk/what-does-it-take-to-be-in-the-top-1-percent-not-as-much-as-you-think/#.VL0lTS4sqqE

Ah, I thought that was rubbish.


Well, There are 64 million people in the UK. The number of people working is thought to be 38 million. We can roughly say that 25k is the median UK salary meaning 19 million people in the UK are in that bracket. The UK is proportionally the 28th richest country on earth, but is a country with a pretty large population compared to a lot of the rest, so while maybe the figure has shifted higher, I don't know whether it's too far off.
Reply 13
Avatar for Quady
Quady
20
Original post by Queen Cersei
After more research it seems that it is the world's richest 85 people that have the same amount as the poorest half of the world http://www.forbes.com/sites/laurashin/2014/01/23/the-85-richest-people-in-the-world-have-as-much-wealth-as-the-3-5-billion-poorest/

These were really the people I was referring to who could make a real difference in the world- it is pretty unlikely that I was having a go at people earning 25k :s-smilie:


Hang on, so as soon as you find out the top 1% may well include you in the future, it's no longer so outrageous and it's suddenly anot even smaller group that are the real problem? How handy...
Original post by Queen Cersei
After more research it seems that it is the world's richest 85 people that have the same amount as the poorest half of the world http://www.forbes.com/sites/laurashin/2014/01/23/the-85-richest-people-in-the-world-have-as-much-wealth-as-the-3-5-billion-poorest/

These were really the people I was referring to who could make a real difference in the world- it is pretty unlikely that I was having a go at people earning 25k :s-smilie:


These stats are different. The richest 85 people have as much as the poorest 3.5 billion (half). That's the old stat that you just linked. The richest 70 million people (1%) have as much as the poorest 6.93 billion (99%). That's the new stat that you originally linked.

Also, everyone here is muddling up income and wealth. Whether you earn $1 or $10 a day, you probably won't save much, so you won't have much wealth. But on $10 a day your income and the way you live are quite different to $1 a day, because you spend more. This is why income inequality is more important than wealth inequality.

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Reply 15
Avatar for Quady
Quady
20
Original post by limetang
Well, There are 64 million people in the UK. The number of people working is thought to be 38 million. We can roughly say that 25k is the median UK salary meaning 19 million people in the UK are in that bracket. The UK is proportionally the 28th richest country on earth, but is a country with a pretty large population compared to a lot of the rest, so while maybe the figure has shifted higher, I don't know whether it's too far off.


It's more like 30m in work isn't it?
Original post by Quady
It's more like 30m in work isn't it?


Possibly, this was as a result of a quick google search of the statistics it's more than possible the ones I've found are outdated. It's just my attempt at a quick back of the napkin justification of why this figure isn't as absurd as it seems.
Does this account for the differing costs of living?
You can't just put a stop to world hunger just like that. It's gonna take generations if it ever even happens at all.
Original post by Alpha510
Does this account for the differing costs of living?


No, it is a simple cash figure and, obviously, a typical middle class UK citizen earning that figure is not going to have much spare cash, especially one living in London.

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