"A study by the World Institute for Development Economics Research at United Nations University reports that the richest 1% of adults alone owned 40% of global assets in the year 2000, and that the richest 10% of adults accounted for 85% of the world total. The bottom half of the world adult population owned barely 1% of global wealth. "(wikipedia)
"only $2161 was needed in order to belong to the top half of the world wealth distribution, but to be a member of the top 10 per cent required at least $61,000 and membership of the top 1 per cent required more than $500,000 per adult." (Davies et al. 2006, p. 25)I own a car. While my bank account isn't that high, I have access to welfare and my assets are definitely worth more than $2161. This is sobering.
Yet while hardship has been a major factor driving the rapid growth and spread of the American movement, drawing in large contingents of ordinary working people of different ethnic backgrounds, it cannot be understood as simply or mainly a response to some absolute level of immiseration. It is a movement that specifically argues these problems are the result not of bad policy choices or particular political parties; rather, the problem is a whole system of elite rule, which has subordinated politics and government to a tiny minority’s interests.posted by harriet vane at 3:19 AM on October 24, 2011
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posted by notionoriety at 2:17 AM on October 21, 2011 [6 favorites]