Wealth is getting more and more concentrated at the top — with ever-widening wealth gaps — in the US and UK especially.
- Now 1% of Americans earn 20% of total income and holds around 40% of wealth.
And rich lists show the wealth share of billionaires surging far above Gilded Age levels.
The surge in inequality has sparked debates, with leftoids demanding tax increases for the rich. While rightoids celebrate the rise of top incomes as a sign of economic success.
Whatever you think of rising inequality, this chart signals trouble ahead for Western elites.
Watch Out
Property rights are a cornerstone of Western civilisation. But the evidence is clear: when the 'peasants' see too much inequality, they get a taste for revoltion and will take what they feel they deserve. Violently if necessary.
Our goverenments have overseen rising and record levels of inequality. It could end badly for them.
Source: The Journal of Economic Inequality via Gabriel Zucman
