The chart is best viewed at the link below.
The Money Project is an ongoing collaboration between Visual Capitalist and Texas Precious Metals that seeks to use intuitive visualizations to explore the origins, nature, and use of money.Visual Capitalist
Visualizing The World’s Top 50 Wealthiest Billionaires
Jeff Desjardins
5 comments:
http://pensionpulse.blogspot.co.uk/2016/03/are-us-public-pensions-doomed.html
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It's annoying to look at this.
Just desserts. These are the risk takers, the innovators, the job creators - where would we be without them?
What purpose serves comparing a flo (GDP of a country) to a stock (wealth of top fortunes)? Answer: absolutely none.
Is this to further unconsciously advance the idea that "the wealthy are worthy and they are job/wealth creators and we depend on them"?
I don't get the obsession over paper wealth at current market valuations. Most of that wealth is based on financial instruments. I'm actually more interested in REALISED currency balances stored in Panama and elsewhere...
That may get us somewhere, at least.
A few years of wage inflation at the low end, expansionary fiscal policy and progressive taxation on financial assets.
I think people just need to make a stand on these issues or it will never change. There isn't a one-size fit all solution to all types of rent seeking. Some times it is helpful, sometimes not. I don't understand why we allow abnormally large profits to flow to companies like Uber that blatantly make an end run around minimum wage laws at a time when people are demanding higher minimum wage laws. The entire idea of the company is to get rid of over-paid cabbies and replace them with schmucks that work for a couple bucks an hour while the financial folks make a killing on transaction fees, auto loans and all sorts of rent-seeking. This should be a rallying point, especially with labor not having a voice on how government is installing automation equipment in roadways to give these companies monopolies to control our travel. A company like Tesla that is forcing the rest of the auto-industry to become more innovative and efficient is deserving of the rent and protection of government policy (DOE bailouts that kept them afloat and tax subsidies on their sales) for the moment at least as they eliminate pollution (though with a keen eye on their battery waste). These are arbitrary calls but if people can at least agree that increasing wages and decreasing pollution are goals in the public interest, they shouldn't be controversial! There is no way to solve the billionaire problem but by allowing the money that helps the public to exist and thrive and taxing the money that works against them.
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