the distribution of the new wealth that was generated in 2020 and 2021.
As the graph shows, 63% of new wealth went to the top 1%. You don’t have to be massively wealthy to be in the top 1%, but even that 1% share is skewed towards the very richest. Billionaire wealth increased dramatically.
The rest of the top ten percent did alright. The other 90% get diminishing shares, and if you look closely you’ll see that the poorest 10% went backwards. Those who most need the increase, for whom more is a matter of life and death, are failed by the global economy. Those who have more than they can ever realistically spend, and for whom more is pretty much meaningless, reap further abundance.
And really, the injustice is so extreme at the moment. Those capitalist arguments for the status quo ring more hollow with every passing year.
https://www.oxfam.org/en/research/survival-richest
— source earthbound.report | Jan 24, 2023
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