Topic: Is it true that 80% of the world's wealth in the hands of 20%? - page 3. (Read 1010 times)

Yes OP, it's true.
And it's true because people who are poor minded or middle class go for show off and the poor class is worried about tomorrow's food while the upper middle class is worried about their neighbors and will do anything to burn their asses, of which the upper class takes enough advantage. Upper class focuses on spreading their money through investments in stocks and/or various businesses while middle class goes for small happiness like buying cars, home or property on EMI and paying the instalments lifetime. And later, their children either enjoy or just sell off their stuff that they gave their entire life to collect, and those children go out of country to become slaves of other countrymen who then exploit them after taking hefty fees to give visa to them to their country. This cycle goes on and on and so, upper class becomes richer and middle class either remains the same or gets into the category of poor but hardly gets rich. And poor class gets poorer with more inflation that takes place in future.

I really don't want to see this kind of statistics because we already knew, no matter what the exact numbers, that there are more poor people than wealthy ones, though this is only based on where I am living because everywhere I see most of the people are minimum wage earners and their houses are not as nice as compared to the wealthy ones. But whats painful is that your house is the only one in like 10 houses along the road; it's a head turner because it needs repair but you can't do it because you don't have the money to do it.

Those wealthy families didn't all achieved their wealth through handwork, some where stolen or taken by force and now their estates has been inherited by their descendents and living luxury life making others that are working day and night look stupid. We have politicians that have gotten power and provided means for their generator to achieve wealth easily.

It's not fair when we say this wealthy individual got their money through handwork as we know they had an advantage over others and when we talk about hard work, those who're doing the most don't get close to the wealth these families has acquired illegally. I don't think the government will do anything about it though because they're beneficiary themselves.

It is true that policies of the government in many countries may tend to favor  elite class, in particular in developing countries but overall the objective of policies is to provide equal opportunities for every citizen without any bias. Additionally current monetary system based on fiat currencies may have some limitation, it is important to note that there is no economic system that can guarantee absolute fairness & equality. It is important for all us to continue raising our voices to put pressure on governments to continue taking initiatives to address these long standing issues.

The government do not want this wealth to be distributed evenly. They want the wealth to be with them so that they may control the people. That is another reason why government oppose bitcoin and promote fiat because through bitcoin the wealth can be distributed evenly.



How unfair is this that government to provide jobs to its people while the people in the government or at the higher authorities' positions can get free money by just printing the money. Inflation makes the rich richer while the poor poorer. This injustice cannot be stopped with the fiat monetary system.

Being born rich can be a curse often I think in terms of developing well as a person, not having to acknowledge the full range of possible circumstances people in society have to encounter is easily arguable as a disadvantage in life.   If you do not value correctly various factors put in your favor it will put that person off balance their whole lives.   With good discipline and education maybe it doesn't have to matter, respect for the knowledge you are taught perhaps is enough to give a person purpose and direction but never having to work from too much wealth can easily go wrong in character forming ironically causing them harm as a person imo.  
  The stat about being descended from the 1066 invasion is probably a bit too general.  I'm also descended from royalty in some slight way not direct afaik because if you go back far enough or have enough history to call on you can find famous relations for alot of people I think its more common then people realize but very often family history is lost further back then a hundred years.  My link is very weak and Im in no way fitting that idea that I would be gifted land or a bank but sure enough alot of people are related from the prior generations.
  Most riches are lost over time, they dont perpetuate that long as history often changes and industries, fortunes are made and lost.   A dynamic well performing economy will not resemble parcel to parcel just via a family over centuries, that wouldnt result in efficient business as often as free competition and success for all in an economy.

I certainly agree with it. No wonder why rich families stay rich from generation to generation and could even enlarge their territories and properties because they inherited the ability to save and earn and how manage their wealth wisely.
They might be born rich and privileged but they have an edge because they have the right mindset especially when their parents mold them as successors of wealth. Rich families could maintain their wealth and even use their assets and investments to get richer.

Actually there is huge problem with goods distribution, many regions in the world still experience hunger and infectious diseases, while others change mobile phones several times a year and spend billions buying excess food which will go to trash. Capital distribution is a problem, but capital itself is not a value, it's value is in improving life quality of those who have it. The life quality attached to fiat currencies is the mechanism which is used by main fiat tycoons to manipulate the poor ones...

Last year I read a book about the distribution of wealth among the world's population. 

I was overwhelmed by the information contained in this book.  I was surprised to learn that 90 percent of all modern British property is owned by the direct descendants of William the Conqueror.  The owners of modern banks and investment funds are representatives of ancient Italian families (for example, the famous Medici bankers). 

This happens not only because wealth and capitals are inherited.  The ability to earn and save money is also inherited. 

That is why the mathematical law of the Pareto distribution works very accurately in the field of finance.

that's a fact and to add to that, at the very top of the food chaun where rich people live, they keep accumulating wealth to have more influence in the economy while letting people work for them. the ones who have more money can dominate who's below them and they can even command and make decisions for the economy. a good example is how Elon keeps doing things, the only downside to that is his inconsistent behaviour.

Thats nonsense logic then because a rich country can export its requirement for labor in a variety of ways.  If that wasnt possible Japan with its drastic loss of working population would have hit the buffers hard a long time ago.  Governments dont benefit from poor people especially but of course society can be made increasingly unequal and commodity wealth is easier to divert then general productive capacity so that type of economy can be a kind of curse to a country.  Most modern economies there is no harm or disadvantage for anyone if every section of society is better off and well educated, healthy etc.

Nothing can be done to overcome the present economic structure. Wealth getting accumulated into the hands of specific percentage of people is true and they have achieved it through their continued work. What government can do is provide support based on the economic order. To have the perfect data on the people's economic situation is really tough task. If a government is able to do it, then it can share are give subsidiaries and added benefits to lift their living. This can be effective, but not every class of people will agree with it. Because every citizen pay equal tax based on the income and the lower class of people getting additional benefits will surely turn to be a controversy.

Who would labor and serve them if everyone became wealthy? That is the government's mentality. While their citizens are suffering and under their power, they keep getting rich.

The government cannot provide its people with equitable wealth. The best they can do is provide a level playing field for employment for its citizens, leaving it up to the individual to come up with a business concept independent of the government that will make him wealthy. The government can not make you wealthy tomorrow because they are afraid that if they do it today, you will challenge, or compete with them in the future. That's why they are fighting crypto as bestdss said

yes, I agree with this, the concept or three in the law of economics, the lower class, the middle class and the upper class are always there wherever we will meet them, such as smart people, mediocre people and stupid people, it will exist in the complexity of living in a society anywhere, and it's true as you said that there are people who don't care about money or are skeptical that there are those who accumulate wealth and so on there will be those who will form castes in society, of course the government cannot handle this, there is also an equalization that is carried out as a tax regulation has been made I think the minimum payment for empowerment and development is that class in social status will definitely exist forever.

You made an interesting comment in perspective of Pareto theory of tendency of societies to maintain a certain pattern of distribution of wealth and power, regardless of attempts to change it, but some social scientists argued that it oversimplifies the concepts and ignores the historical context, institutional structure and political power that can have significant impact on patterns of wealth and inequality.

Indeed, Pareto theory has some validity but it doesn't capture full picture of how wealth is distributed in societies.

The society is arranged in such a way that even if you take some kind of conditional wealth and divide it equally among all citizens, then after a certain time everything will return to its usual order, a middle class will form, there will be poor and rich. Different people think differently, someone is inclined to accumulate wealth, someone is not interested, someone knows how to handle money, someone does not. It has always been so and it will be so, so the government will not be able to change it.

It is a common thing in many countries of the world that few individuals control the major portion of  national wealth which is often viewed as unjust and unethical Hence, it is important for governments to introduce and implement such policies which ensure equal opportunities for all citizen without any bias.

Government can accomplish this goal through measures such as taxation and equal distribution of resources.

After a very long time, this is the first time I encountered again the Pareto rule. The best thing that the government can do is to do their job and provide jobs. They should be held accountable for every decision they make for the country. Because when jobs and equal opportunities are provided to the people, things start to work out.

In my opinion, this is just a conjecture or finding, according to a study that has been conducted by an independent institution for almost a year, concluded that in my country assets are controlled by around 15% of the population. Another unique fact is that land owners who use it for business are controlled by 5%, we even often hear reports that in many countries that are still poor, state assets are controlled by less than 3% of the population or citizens.

if the bureaucracy runs well and the government really implements tough laws against corruptors, I think it will be able to reduce the number of corruption which is the main parasite in a country. as is the case in my country where officials are currently showing off their wealth until finally because of a case that is under pressure from the community an investigation is held for officials whose wealth is not reasonable, in the end it is the community who loses because many officials are selfish