Saturday, December 09, 2006

Poorest half of the world's people own one percent of global wealth

That the global distribution of wealth is grossly unequal is not surprising. The degree of that inequality is somewhat astonishing.

According to a UN study as reported by the BBC:

The richest 2% of adults in the world own more than half of all household wealth

whereas

the poorer half of the world's population own barely 1% of global wealth.

Unlike many other reports, this study looks at not solely income but wealth (income minus debt).

As such, the study also finds that inequality is sharper in wealth than in annual income.

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