Rizzo The Nihilizo

Wednesday, December 6, 2006

Richest 2% Own Half of the Wealth of the World

This is ridiculous. If this isn't a sign that there might be something wrong with the current way things are in the world, then I really don't know what is. Could someone please explain to me the moral justification for such a thing? Oh, right, there is none. Capitalism, in its raw form, is just an excuse for animalistic dominance of one man over another. Unless you are very sure that you're going to be the man on the top, why would you support a system that makes you another man's bitch? True freedom comes not from helping others to help yourself, but rather helping others for no other reason than you love and care about them.

Anyway, here's the story:

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.

The report, from the World Institute for Development Economics Research at the UN University, says that the poorer half of the world's population own barely 1% of global wealth.

There have of course been many studies of worldwide inequality.

But what is new about this report, the authors say, is its coverage.

It deals with all countries in the world - either actual data or estimates based on statistical analysis - and it deals with wealth, where most previous research has looked at income.

What they mean by wealth in this study is what people own, less what they owe - their debts. The assets include land, buildings, animals and financial assets.

Read more here.

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1 Comments:

At Wednesday, March 14, 2007 3:11:00 AM, Anonymous fallinghouse said...

Wow, I knew it was bad; didn't know it was that bad.

 

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