05/29/13

Permalink The World's Richest 8% Earn Half of All Planetary Income

The top 1 per cent has seen its real income rise by more than 60 per cent over those two decades. - The lead research economist at the World Bank, Branko Milanovic, will be reporting soon, in the journal Global Policy, the first calculation of global income-inequality, and he has found that the top 8% of global earners are drawing 50% of all of this planet's income. He notes: "Global inequality is much greater than inequality within any individual country," because the stark inequality between countries adds to the inequality within any one of them, and because most people live in extremely poor countries, largely the nations within three thousand miles of the Equator, where it's already too hot, even without the global warming that scientists say will heat the world much more from now on.

AWIP: Wealth Inequality in America - Must See Video

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