Debate Intensifies Over the Accuracy of Wealth Inequality Estimates in the US and India
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The past 12 years have been extremely good for the ultra-rich, with the fortunes of billionaires more than doubling. The wealth gap between the top 0.01% and the bottom half of the world's population has increased by 50% since the 2008 global financial crisis. The aftermath of COVID-19 and the war in Ukraine have been particularly lucrative for the ultra-wealthy as they reaped an enormous windfall from pandemic-era stimulus packages and corporate welfare. A recent report by Oxfam found that the combined wealth of the world's five richest people has more than doubled since 2020, while nearly five billion people have become poorer. Rising inequality is linked to tax policies, debt, and the crucial role of corporate monopolies in transferring wealth from the working and middle classes to the ...
#newstr #WealthInequality #IncomeInequality #WorldInequalityLab #UsEconomy #IndianEconomy