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Bank Report Reveals Where Ruling Class Lives
Engler, Gary
http://dissidentvoice.org/2019/11/bank-report-reveals-where-ruling-class-lives/Date Written: 2019-11-08 Publisher: Dissident Voice Year Published: 2019 Resource Type: Article Cx Number: CX23845 The 2019 Credit Suisse Global Wealth Report provides a glimpse at the inequality that the neoliberal era has produced, who has benefitted and those who have been left behind. Abstract: -- Excerpt: According to the tenth edition of the report, recently released, "The bottom half of wealth holders collectively accounted for less than 1% of total global wealth in mid-2019, while the richest 10% own 82% of global wealth and the top 1% alone own 45%." The importance of knowing where rich people are and might be popping up next is what has produced this annual "most comprehensive and up-to date survey of household wealth".... According to supporters, capitalism is supposed to be all about competition. The system is supposed to reward merit. Winners and losers are legitimate because everyone has an equal chance to succeed. But this is clearly not true in the actual world as described by the Credit Suisse report. Subject Headings |