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Showing posts with the label "inequality of wealth"
Extremism Via Michael Roberts "Inequality of wealth is more extreme than inequality of income in OECD countries. On average in the OECD the richest 10% of wealth holders own 53% of all personal (net) wealth, while the richest 10% of income holders own 24% of all personal income. It's wealth that matters - wealth being property and financial assets less any debt. Most people have little wealth at all. But note the ratios are much higher in some countries. In the US, the richest 10% of wealth holders own a staggering 79% of all personal wealth, followed by the Netherlands and social-democratic Denmark. The least unequal major country is Japan where the top 10% own 'only' 41% of all personal wealth. OECD graph (2015)
"There is a powerful impulse within the electorates of the NATO states for their governments to give a lead to the world and really help the less fortunate overwhelming majority of humanity to improve their lives and strengthen their security and welfare. But we must bear in mind two unfortunate facts: first, that the NATO states have been and are hell-bent on exacerbating the inequalities of power and wealth in the world, on destroying all challenges to their overwhelming military and economic power and on subordinating almost all other considerations to these goals; and second, the NATO states are finding it extraordinarily easy to manipulate their domestic electorates into believing that these states are indeed leading the world’s population towards a more just and humane future when, in reality, they are doing no such thing."  —Peter Gowan, NLR, March-April 1999