Sunday, September 23, 2018

May you live in interesting times...Sunday morning edition

"Over the last 25 years, more than a billion people have lifted themselves out of extreme poverty, and the global poverty rate is now lower than it has ever been in recorded history. This is one of the greatest human achievements of our time,” World Bank Group President Jim Yong Kim
The wealthiest 1 percent of the world's population now owns more than half of the world's wealth, according a Credit Suisse report.
And I just realized that latter statistic, which is symbolic of wealth inequality, has actually little historical data behind it, to give it context and show perspective.  Has the balance aways been that the wealthiest 1 percent own more than half (despite the "now")?  Or maybe even more tilted in the favor of the wealthy -- one would think Julius Caesar for example, would have had more than half of the world's wealth at his peak all by himself.  And since there has been no other time where, I think, the average person in the world has been better off than now, which is a measure in part of wealth, it might well be that wealth is more spread out than even before...

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